Bridgepoint has sold independent TV production company All3Media to Permira for £320m in a secondary buyout transaction. The investment generated a money multiple of 5.5x for Bridgepoint, which backed the business (formerly called Chrysalis TV) in a £45m management buy-in in 2003.
Following the MBO, Bridgepoint pursued an active buy-and-build strategy during its investment period. All3Media’s acquisitions including Lion TV, specialising in history, general factual and entertainment programmes in June 2004; Company Pictures, a TV drama and feature film business in October 2004; Artist Rights Groups, a talents and rights agency in the independent TV and film sector in March 2005; and Mersey TV, which produces Brookside, Hollyoaks and Grange Hill, in June 2005.
The current management team including Steve Morrison, Jules Burns, David Liddiment and John Pfeil, remain shareholders in the business.