Plymouth's Twofour Group in merger to create production powerhouse

Plymouth's Twofour Group, one of the UK’s leading independent media groups, will be merged with Welsh production company Boom Pictures in what they are describing as "a transformative deal which sees the creation of a major new Nations and Regions player in independent media production."

The merger sees Twofour Group’s global business – comprising Twofour Broadcast, Twofour Rights and Twofour Digital – joining Boom Pictures, with its senior executives taking key roles in the enlarged Boom Pictures group.

This merger fuels the growth of Boom Pictures in line with plans set out by co-founders, former BBC One Controller, Lorraine Heggessey and Huw Eurig Davies when they launched the group in July last year. Twofour greatly expands the group’s network programming, moving the company into key genres such as entertainment and features. The deal also brings in international distribution with Twofour Rights, and a growing production presence in the US. In addition, Twofour’s thriving digital arm serves blue chip brand clients and a growing hub in Abu Dhabi.

The merger has been supported by leading UK private equity firm LDC, which invested in the creation and development of Boom Pictures in 2012.

The merging of the two businesses puts Boom Pictures group firmly among the top ten UK indie production outfits. Twofour held the prestigious title ‘Best Indie Production Company’ in 2010 and secured second place in industry magazine Broadcast’s 'True Indie Survey 2013', and this deal gives the enlarged Boom Pictures group the scale to compete more effectively with the larger 'super indies'. Both companies are firmly rooted outside London, so the company becomes a Nations and Regions production powerhouse through Boom’s Cardiff headquarters, and Twofour’s headquarters in Plymouth.

Lorraine Heggessey, Executive Chair and co-founder of Boom Pictures, says: “We’re on an exciting journey and it’s the right time for us to join up with such an excellent creative and executive team who have already built a hugely successful company. Boom and Twofour fit together perfectly and have a similar positive culture, firmly rooted in the Nations and Regions. We have got off to a flying start in our first year, building Boom’s programming, and attracting major comedy and drama talent. This deal will cement our position as a new leading player in the indie sector.”

Charles Wace, founder and CEO of Twofour Group, says: “Lorraine and Huw are building a fast-growing dynamic media group in Boom Pictures, that is set to become a leading force in the UK and internationally. In looking at the future of Twofour’s business, the attraction was the backing of LDC, one of the UK’s leading and most experienced private equity firms, combined with Lorraine’s leadership and vision. This ambitious partnership is the ideal platform to help take Twofour to the next stage in its life.”

Huw Eurig Davies, Deputy Chair and co-founder of Boom Pictures adds that: “The strategic value of this deal, at this stage in our development, is that it fulfils several key business growth ambitions. It gives us real scale, a base from which to grow in the US and brings distribution in-house so we can benefit from the rights that come from our creativity. Importantly for us as a Welsh group, the synergy with Twofour as a company that has also grown its roots in the regions means that we have expanded our footprint, making the Boom Pictures group a key supplier outside of London.”

The combination of the two companies will strengthen Boom Pictures’ offering as a production group. Twofour Broadcast has had a very successful 12 months, producing over 200 hours of original broadcast programming across all major UK broadcasters, and adds prime-time entertainment production to Boom Pictures’ programming portfolio, with shows like ITV’s hit Splash! and the forthcoming The Alpine Games (working title) for Channel 4. It also brings successful factual entertainment titles like Alex Polizzi’s The Hotel Inspector and The Fixer as well as fixed-rig factual hit Educating Yorkshire.

The inclusion of Twofour Digital with its major blue chip clients including DuPont / Ogilvy Entertainment, and the award winning Horizons series on BBC Global News will build on Boom Pictures’ digital and branded content expertise, adding to the group’s current award-winning work with major brands through the Boomerang label, which produces GT Academy for Nissan and Playstation and The Clare Balding Show for BT Sport. Twofour’s post-production capabilities in Plymouth will compliment Boom Pictures’ own offering through Cardiff-based Gorilla and The Joint in Soho, expanding the group’s ability to keep its post-production in-house.

The deal also gives Boom Pictures a greater international footprint and global reach. Twofour Rights, which launched in 2012, becomes the group’s in-house distribution arm, Twofour Broadcast’s Los Angeles office gives Boom Pictures a base in the US from which to build on its relationships with American networks and cable channels. Twofour Digital’s Abu Dhabi office adds a presence in the growing Middle East market.

The Twofour labels will retain their names and branding, with the senior management continuing in their current roles or taking on Boom Pictures Group roles. They will become shareholders, investing in the success of the partnership.