UK-based PROCAM has acquired its competitor Hammerhead TV. The announcement marks PROCAM’s first acquisition since the company’s management buy-ut in May 2013. The strategic purchase was led by PROCAM’s group CEO, John Brennan and backed by private equity firm, Foresight Group.
The UK’s largest broadcast hire company, PROCAM today announced the acquisition of competitor, Hammerhead TV (www.HammerheadTV.com). The acquisition sees PROCAM expand into Scotland whilst strengthening its existing operations in London and Manchester.
The announcement marks PROCAM’s first acquisition since the company’s successful management buy-out in May 2013. The strategic purchase was led by PROCAM’s Group CEO, John Brennan and backed by Private equity firm, Foresight Group.
With offices in Glasgow and Edinburgh as well as London and Manchester, Hammerhead TV is a long established company and a major player in the Scottish broadcast hire market. Since 1988, the company has provided crew and equipment for some of Britain’s most loved shows including The Secret Millionaire, Britain’s Next Top Model and Dragon’s Den.
Scotland has a strong history in the broadcast sector and following London, is the second biggest market for film, television and animation production in the UK1. PROCAM intends to build on the solid foundations laid by Hammerhead to grow the sector and maximise the economic potential of this buoyant industry.
John Brennan, Group CEO of PROCAM said; “Our customers tell us they want a consistently high level of service and equipment, wherever they’re filming. We’re on a mission to make that a reality and today’s news shows how we’re investing to extend the reach of the PROCAM offer across the UK. Together with organisations like Creative Scotland, we’re confident we can make Scotland an even more attractive option by delivering a first class infrastructure for broadcasters and production companies.”
James Livingston, Investment Director, Foresight said; “Foresight is delighted to support PROCAM on its on-going ambitious growth plans. There is clearly demand from broadcasters both in the UK and internationally to produce high quality content in Scotland. PROCAM is in a position to capitalise on this demand thanks to its unparalleled knowledge and expertise in the market.”
Phil Mews, Client Sales Manager from Hammerhead TV said; “To be part of the largest broadcast hire company in the UK is hugely exciting. This acquisition provides new opportunities for all those involved including staff and clients.”
Clive Jones CBE, the newly appointed Chairman of PROCAM said; “Scotland has a rich history in the broadcast market, but its true potential hasn’t always been fulfilled. I believe PROCAM, led by John Brennan, will change this by using its expertise and networks to bring new opportunities to Scotland’s broadcast market – it’s a hugely exciting period for both PROCAM and Scotland.”
PROCAM has been providing camera equipment and crew to many of the biggest broadcasters, production companies and blue chip organisations throughout the UK and internationally for over 20 years. It is a preferred supplier to BSkyB and an approved supplier for BBC and ITV. Over the last four years growth has been particularly rapid, with revenues doubling following the introduction of new camera formats. PROCAM has the largest stock of HD cameras in the UK and continues to lead the way technically, most recently in the provision of new ultra high-def ‘4K’ cameras that industry insiders expect to be used throughout the market in the next few years offering 4x the resolution of current high definition.2
Headquartered in Battersea, London, PROCAM has worked on award winning shows including E4’s Made in Chelsea, National Geographic’s Strippers: Cars for Cash, BBC2’s The Great British Sewing Bee, Channel 4’s Derren Brown & Watch’s Dynamo: Magician Impossible.
Notes to editors
1 Figures from Scottish Development International
2 According to data gathered in February 2013: London to Lead 4k revolution.
For over 20 years, PROCAM has been providing crew and camera equipment to many of the biggest broadcasters, production houses and blue chip organisations throughout the UK and internationally. Programmes PROCAM has worked on include: Made in Chelsea, ITV’s Splash, Watch’s The Incredible Mr Goodwin, BBC2’s The Great British Sewing Bee, Derren Brown and The Great British Bake Off. PROCAM was previously known as Procam.TV.
About Foresight Group (www.foresightgroup.eu)
Foresight is an independent specialist private equity, environmental and infrastructure investor, which focuses primarily on investments in unquoted UK and European companies or projects and offers investors exclusive access to attractive income and growth opportunities.
Foresight has in excess of £800 million assets under management across a number of funds, including Limited Partnerships, Enterprise Investment Schemes (EIS) and Venture Capital Trusts (VCTs).
Foresight’s Private Equity team, comprised of ten investment professionals, invests between £1m and £5m in management buy-outs, management buy-ins and growth capital investments in UK SMEs.