Pinewood film studios agrees £323m sale
The Pinewood Group has agreed a £323.3m sale that will help the company expand its flagship facility near London.
Pinewood will be sold to Aermont Capital through Bidco, one of Aermont’s private equity funds.
The sale follows a strategic review of Pinewood’s financial structure that began in February this year, and will help the facility expand its south-east England site more quickly.
“The Board believes that Bidco can provide Pinewood with the platform required for future growth,” said Lord Grade, chairman of Pinewood.
“The Pinewood Group has been transformed in recent years but has been somewhat constrained in realising its ambitions due to the lack of share liquidity. As a result of the strategic review instigated by the Board, Pinewood now has the prospect of a funding structure for the future.”
The group's International facilities include Pinewood Atlanta Studios in the US state of Georgia, which has become the long-term home of Marvel’s superhero movies, while Pinewood Iskandar Malaysia Studios hosted the Netflix drama Marco Polo before it officially opened.
Pinewood is in the midst of a long-term expansion plan to help increase the UK’s purpose-built studio resources. Phase One of the Pinewood Studios Development Framework was completed earlier this summer, adding five new sound stages to its London facility.
For more on filming in the UK see our production guide.
Image: Francois Duhamel / Danjaq / United Artists Corporation / Columbia Pictures