Nice Entertainment Group acquires Playroom
(Thomson Reuters ONE) -
CapMan Press Release - 8 June 2012 at 10:00 a.m. EET
Nice Entertainment Group acquires Playroom
Nice Entertainment Group (Nice), a pan-Nordic content production group, has
signed an agreement to acquire Norwegian event management company Playroom AS.
Following the acquisition, Nice will significantly increase its market share in
Norway's branded entertainment market and further reinforce its position as the
leading independent television production company and entertainment group in the
Nordic region. Nice is jointly owned by funds managed by CapMan, the current
management team and key employees. Playroom's founders will also become
shareholders of Nice.
Founded in 2001, Playroom is an entertainment house focused on experience-based
communication through event management, artist management and record production.
The company has grown significantly in recent years and is today one of the
leading and most innovative event companies in Norway.
The acquisition will strengthen Nice's position in Norway as Playroom
complements Monster, Nice's Norwegian television and commercial production
business. Through Playroom, Monster is able to access a more diversified client
base, expand offerings to existing clients, reduce time to market for events,
and increase revenues through utilization of established television concepts and
media production capabilities at Playroom events. The transaction also
facilitates the creation of a pan-Nordic event platform through cooperation with
other companies under the Nice umbrella. The combined business is estimated to
generate approximately EUR 120 million in 2012.
"Playroom is an ideal fit with Monster as we strive to expand Nice within
branded entertainment. The prerequisite of success in this rapidly growing
segment of the entertainment industry is a strong foundation that consists of
excellent players from different market segments. Co-operation between Norway
and Sweden in terms of event management is an additional rationale behind the
Playroom acquisition. In light of the growing interest in branded entertainment
across the Nordics, we have a lot to gain from the development of a joint
customer base and the utilization of program formats for events," says Morten
Aass, CEO of Nice.
"Playroom has co-operated with Monster since our inception. Over time, our
partnership has evolved from television production to delivering a combination
of programming and events. Our being part of the same family is a natural
development of our shared history and will strengthen our offering to our
customers. As owners of Nice, we remain committed to cultivating the Playroom
concept as part of a larger organisation," says Jens Nesse of Playroom.
"The acquisition of Playroom supports the strategic objectives of Nice as it
emphasizes the group's position as a leading Nordic content production group. As
majority owners we will continue to further develop the Nice group of companies
in order to achieve valuable synergies," says Olli Liitola, Senior Partner in
charge of the investment in Nice at CapMan.
Nice was founded by merging Finnish Moskito Group, Norwegian Monster Group and
Swedish Baluba Group. In 2009, Nice acquired Danish Gong, thereby expanding its
presence across the Nordic countries. In 2011, Nice further strengthened its
position in the largest market for Nordic television production by acquiring
Titan, a leading production company in Sweden.
CapMan Buyout VIII fund, in which the CapMan Group is a substantial investor,
holds a majority share in Nice, while the group's management and key employees
are minority shareholders. Following the acquisition, the founders of Playroom
will also become shareholders of Nice.
Completion of the transaction is subject to certain conditions being fulfilled
and is expected to occur during June 2012.
Further information:
Olli Liitola, Senior Partner, CapMan Buyout, tel. +358 400 605 040
Morten Aass, CEO, Nice Entertainment Group, tel. +47 970 270 00
CapMan www.capman.com
CapMan is one of the leading private equity firms in the Nordic countries and
Russia, with assets under management of ?3.0 billion. CapMan has four key
investment partnerships - CapMan Buyout, CapMan Russia, CapMan Public Market,
and CapMan Real Estate - each of which has its own dedicated investment team and
funds. Altogether, CapMan employs approx. 120 people in Helsinki, Stockholm,
Oslo, Moscow and Luxembourg. CapMan was established in 1989 and has been listed
on the Helsinki Stock Exchange since 2001.
Playroom www.playroom.no
Playroom consists of three divisions: events, music and artists. The event
division is the largest and has demonstrated strong growth since its inception
in 2007. Playroom was the only Norwegian event management player that grew in
the challenging year of 2008. Today the company is one of the largest in the
Norwegian event management business, and has a number of partnership agreements
with some the most important Norwegian companies.
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: CapMan Oyj via Thomson Reuters ONE
[HUG#1618274]
Unternehmensinformation / Kurzprofil:
Datum: 08.06.2012 - 09:01 Uhr
Sprache: Deutsch
News-ID 154530
Anzahl Zeichen: 6056
contact information:
Town:
Helsinki
Kategorie:
Business News
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"Nice Entertainment Group acquires Playroom"
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