FFI Holdings PLC Acquires Signature Entertainment UK
FFI Holdings PLC, the world leader in the provision of completion contracts to the entertainment industry for films, television, mini-series and streaming product, announces today that it has acquired Signature Entertainment UK, one of the largest distributors of films in the UK.
Founded in 2011, Signature has released over 600 titles and established itself as a leading distributor of diverse entertainment titles to a broad UK audience in cinemas and at home. The company has a wealth of industry experience and acts as an aggregator for Netflix, Amazon Prime and Sky as well as other streaming services.
FFI has acquired Signature for a consideration comprising initial payment of $5 million in cash followed by 4 annual payments of 13.75% of Signature's prevailing EBIT at a 5 times multiple. Signature has generated a trailing twelve-month EBIT of approximately $2m.
Today's acquisition continues to expand FFI'S iconic platform which now incorporates completion contracts, entertainment risk insurance, a range of post-production services and world-wide distribution capabilities. FFI's current documentary collaboration with IMAX and Warner Brothers, "Pandas", has now been launched in theatres in the US and has been met with critical acclaim.
Commenting on today's acquisition, Steven Ransohoff, CEO of FFI Holdings PLC, said, "We are delighted to bring Signature Entertainment under the FFI banner. We look forward to working with Marc Goldberg and his team as they expand their distribution business which is especially well poised in the streaming arena. Signature will afford us excellent opportunities to expand the reach of the rest of FFI's platform into a new captive distribution channel."
Additional information on Signature can be found at www.signature-entertainment.co.uk