Acquisition by Procam of Hammerhead TV
HMT LLP undertook financial due diligence for Procam Television Limited , the UK’s largest broadcast hire company, and Foresight Group, on the acquisition of the trade and assets of Hammerhead Television Facilities Limited, a major player in the Scottish broadcast hire market.
Procam, headquartered in London and backed by specialist private equity firm Foresight Group, provides camera equipment and crew to many of the largest broadcasters, production companies and blue chip organisations in the UK. Notable customers include BBC, ITV and BSkyB.
Hammerhead TV is a long established provider of crew and equipment to many of Britain’s favourite programmes. Established in 1988, the business is a major player in the Scottish broadcast hire market, the second biggest market for film, television and animation production in the UK, and has worked on various popular shows including Dragon’s Den, The Secret Millionaire and Britain’s Next Top Model.
The acquisition sees Procam expand into Scotland whilst strengthening its existing operations in London and Manchester, and marks the firm’s first acquisition since its recent management buy-out.
Helen Cardrick, Finance Director at Procam, commented:
Paul Read commented:
“Having undertaken FDD on Procam’s recent management buy-out, it was a pleasure to work with Helen and her colleagues again, this time on the successful acquisition of a rival competitor. We look forward to continuing our strong relationship with management and their investors as the business undoubtedly continues to grow.”
We are passionate about delivering an optimal outcome for our clients and helping them achieve their personal objectives. We understand entrepreneurial businesses because we are one
Partners are supported by high-calibre professional staff who share our core values of enthusiasm, energy, entrepreneurialism and empathy to our client’s objectives
Our Partners have unparalleled deal experience in the mid-market and are supported by a team of dedicated deal-doers with specialist capabilities and experience