UK independent See-Saw Films has hired an adviser to explore a sale or new investment.
Maker Heart stopper, Slow horses and sweet peas has engaged UK-based investment bank ACF to evaluate its options, the deadline confirmed. The commercial broadcast in the UK was first with the news today.
See-Saw is headquartered in the UK and Australia. Having been on a hot streak in recent years, during which it has produced numerous films and series on both sides of the pond in recent years, a premium is likely to be demanded and lead to a deal in the low nine-figure pound area.
Filings with Companies House in the U.K. show that See-Saw had revenues of £122.3 million ($158.8 million) in the fiscal year to June 30, 2023, and profits of about £4.5 million. However, these figures do not include cash made through Australia or other types of overseas turnover, we understand.
Potential bidders have been approached, with interest likely to be high for one of the few unconsolidated, high-volume independent books still on the market. One source said: “They’re a team effort.”
Jane Turton, CEO of All3Media, recently said that her company will be looking at acquisitions in the coming “months or years,” while Banijay bought Peaky Blinders the maker of Caryn Mandabach Productions earlier this year and could be looking for more deals. The likes of BBC Studios, which previously had a first-look deal with See-Saw, and ITV Studios could also be commercial players interested in the deal.
See-Saw is best known for its 2011 Oscar-winning film King’s speech Starring Colin Firth, Elisabeth Moss BBC drama Top of the lake Oscar-nominated Lion starring Dev Patel. She also adapted the movie for Operation Mincemeat And the favorite was Stranger.
Most recently, the independent company has been producing the Emmy Award-winning drama on Apple TV+ Slow horses; Netflix Heart stopper; Sweet peaswhich recently launched on Sky in the UK and Starz in the US; and One Life Next up next year is a Netflix drama apple cider vinegar.
Ian Canning and Emil Sherman launched See-Saw in 2008. Helen Gregory and Simon Gillis now lead day-to-day operations as joint managing directors. Last year the company launched a joint venture, Fanboy, with Heartstopper Executive Producer Patrick Walters. Sweet peasKirstie Swain’s adaptation of CJ Skuse’s dark comedy novel was her first production.
We have reached out to See-Saw and ACF for comment.
A source