APX Group acquires 50% Twickenham Studios stake

APX Group has acquired a 50% stake in Twickenham Film Studios from businessman Sunny Vohra. 

The deal will see APX rebrand the international network of studios it’s building with the Twickenham Studios brand. It plans to float on the New York Stock Exchange later this year. It will also move its head office, plus that of its UK partner and production arm Herd International Productions, to Twickenham Film Studios.

The current employees and structure of Twickenham Studios will not be affected, and two members nominated by APX Group will be added to the board.

Vohra bought Twickenham Studios in 2012, following a campaign to stop the closure of one of the UK’s oldest studios. The 110-year-old facility named co-managing directors late last year, with Andrew Boswell and Superna Sethi coming in after Cara Sheppard left to become president of Streamland Media’s picture division, Picture Shop.

This move comes after Vohra acquired a 6.95% stake in APX Corporation for $70m (£58m), the parent company of the APX Group Media fund, joining its board and acquisition committee. He joined its board and acquisition committee as part of the agreement, and will remain as Twickenham Film Studios’ chairman.

Vohra said: “Twickenham Studios was saved from liquidators and demolition by myself and a group of like-minded film-buffs approximately 10 years ago. Now we all look forward towards worldwide expansion and growth between our current management and the APX Group team. The Twickenham brand lasted gloriously for the past 100 years, and we are committed to the next 100 years.”

Shelley Hammond, global chief executive of the APX Group, said: “As CEO I’ve made it the goal of our group to expand our production network into fresh territories and to complete a successful public merger. Twickenham Film Studios is a cultural institution of film production and as such will be a jewel within our production portfolio. The work completed over the 100 plus years while the studio has been active is seminal. As partners, APX Group intends to secure the next hundred years and actively expand the brand to enable continuing award-winning service to the creative industry. In short – the Twickenham brand is historic, its reputation iconic, and our vision is global.”

Adi Cohen, chair of the APX Group board, added: “Twickenham is an iconic and historical brand, the home of British celluloid history, the home of The Beatles and many, many more – all representing unmatched quality, prestige, heritage and the preservation of history and culture. We are honored to be part of history with this acquisition.”