Deal Announcement 07/19: Service Industries
PwC acted as exclusive financial advisor to Lenbach Equity Opportunities I., a private equity fund advised by DUBAG Investment Advisory, on the sale of MMC, one of Germany’s leading TV studio operators and movie producers, to Novum Capital
The Deal
The PwC M&A team is pleased to announce the successful Closing of Project Showtime, the sale of MMC Holding GmbH and related companies (“MMC”), one of Germany’s leading TV studio operators and movie producers to Novum Capital Special Opportunities Fund I GmbH & Co. KG (“Novum Capital”). PwC M&A acted as exclusive financial advisor to the seller, Lenbach Equity Opportunities I. SCSp (“LEO I.”), a Luxembourg based private equity fund advised by DUBAG Investment Advisory GmbH (“DUBAG”).
PwC M&A was mandated to run an international sales process to find the best new owner for MMC. MMC Group is engaged in the production of TV shows (i.a. “Deutschland sucht den Superstar”, “The masked singer”, “Let’s dance”) and movies (i.a. “Die fabelhafte Welt der Amélie”, “Anne Frank”, “The Physician”). Via its international network, PwC approached selected strategic and financial investors. PwC proceeded with multiple investors into the due diligence process and ensured a competitive deal momentum until signing.
Under the new ownership of Novum Capital, MMC will continue to be one of the key players in the TV show production market, but is intended to focus on growth opportunities such as the eSports sector. Novum plans to integrate the Cologne-based specialist for outside broadcast Crosscast GmbH.
DUBAG Investment Advisory GmbH
DUBAG is a specialised Munich based investment advisory firm. DUBAG advises the private equity fund Lenbach Equity Opportunities I. SCSp, which aim at the acquisition and active development of companies in special situations. DUBAG supports its funds during the acquisition, development and exit phase of their portfolio companies. DUBAG advises funds that, until the sale of MMC, comprised companies with a total turnover of more than EUR 300 million across seven different industries in ten countries. For more information, please visit www.dubag.eu.
MMC Group
The Cologne based MMC Group consist of (i) MMC Holding GmbH, (ii) MMC Holding GmbH’s 100% subsidiaries MMC Studios Köln GmbH and MMC Movies Köln GmbH and (iii) MMC Zodiac GmbH, a 50/50 joint venture of MMC Movies Köln GmbH and Zodiac Pictures Ltd. MMC Studios operates the Coloneum in Cologne, Germany. The Coloneum is one of Europe’s largest and most advanced TV and film studio facilities. For more information, please visit www.mmc.de.
Novum Capital
Novum Capital is an investment company based in Frankfurt am Main, which is financed by pension funds and supports medium-sized companies such as MMC with capital and expertise in the process of growing businesses.For more information, please visit www.novumcapital.com.
PwC
The global PricewaterhouseCoopers network is a worldwide association of independent auditing and consulting companies which together employ more than 250,000 people in 158 countries. Our global network comprises nearly 1,550 M&A professionals all over the world, realising approx. 400 successful transactions per year. We specialise in a wide range of independent M&A services including advice on acquisitions and disposals, mergers, public takeovers, privatisations as well as structured financing.
PwC M&A’s Germany acted as exclusive financial advisor to LEO I. on this transaction. The transaction was led by Martin Schwarzer (Partner) and executed by Oliver Boot (Senior Manager), Niklas Nagel (Senior Associate) and Felix Lenk (Senior Associate).
