Twofour Group merges with Boom Pictures
Twofour Group is set to merge with Boom Pictures in a deal which will make the latter amongst the top 10 UK indie production outfits.
The Twofour labels – Twofour Broadcast, Twofour Rights and Twofour Digital –will retain their names and branding, with the senior management continuing in their current roles or taking on Boom Pictures Group roles. Boom Picture founders Lorraine Heggesseyand Huw Eurig Davies will remain as executive and deputy chair, respectively.
The CEO of Twofour, Charles Wace, will step back from his role to pursue other interests, but will remain involved through his new roles on the Boom Pictures Board as non-executive chairman of Twofour and a non-executive director of Boom Pictures.
He said: “Lorraine and Huw are building a fast-growing dynamic media group in Boom Pictures, that is set to become a leading force in the UK and internationally. In looking at the future of Twofour’s business, the attraction was the backing of LDC, one of the UK’s leading and most experienced private equity firms, combined with Lorraine’s leadership and vision. This ambitious partnership is the ideal platform to help take Twofour to the next stage in its life.”
The deal will see Boom Pictures gain a foothold in the US and Middle East; while Boom Picture’s headquarters will remain based in Cardiff, and Twofour’s headquarters in Plymouth.