Fortis Private Equity has acquired a 33% shareholding in fast-growing media and entertainment company Studio 100.
“When we started looking for a financial partner a few months ago, we hoped that it would be a Belgian company,” says Hans Bourlon, Director of Studio 100. “So we are very pleased that Fortis Private Equity has placed its trust in the ongoing growth and existing structure of Studio 100.”
Studio 100 has decided to open up its equity capital to a financial partner because it wishes to pursue growth on an independent basis. The company is also committed to remaining 100% Belgian and to becoming even more firmly entrenched in the Belgian market.
Studio 100 recently took a 50% shareholding in Ded’s it Productions, with a view to expanding into entertainment programmes for adults. The company is actively pursuing international expansion, negotiating with potential partners in France, Germany and Spain. It is also considering several opportunities for opening a theme park – either indoor or outdoor – in the Netherlands. In its Belgian home market, Plopsa-Coo amusement park in Wallonia is being given a facelift and will have its first zone revamped when it opens on 31 March 2007, and Plopsaland De Panne has plans to fully renovate its entrance area and is looking into the possibility of building a hotel.
A leading provider of growth capital in the Benelux region, Fortis Private Equity has had Studio 100 on its radar screen for some time. Brigitte Boone, CEO of Fortis Private Equity says: “In the run-up to the deal with Studio 100 it was confirmed that this successful media firm’s management team displayed a healthy blend of creativity, market knowledge, management skills, ambition and vision. With Fortis Private Equity on board and the Hans Bourlon/Gert Verhulst duo at the helm, Studio 100 is well positioned to steam ahead on its international course.”
The transaction between Studio 100 and Fortis Private Equity involves both the purchase of shares from Hans Bourlon and Gert Verhulst and a capital injection of more than 15 million euros, giving Studio 100 a sound financial basis for further growth. The total transaction amount has not been disclosed.
Founded in 1996 by Gert Verhulst, Danny Verbiest and Hans Bourlon, Studio 100 produces entertainment for children – television, films, books, newspapers, magazines, CDs, merchandising, shows and theatre productions – all of which is developed in-house. The Studio 100 characters have become household names. Samson & Gert, Kabouter Plop, K3, Big & Betsy, Wizzy & Woppy, Piet Piraat, Bumba, Spring, Topstars and Bo & Monica all have a huge following among the young.
Studio 100 and Belgian broadcasting company VMMa opened the Plopsaland amusement park on the Belgian coast in 2000, allowing the public to meet the popular television characters up-close. Studio 100 has grown explosively in the past few years, first acquiring and revamping Plopsaland amusement park in De Panne and then opening Plopsa Indoor Hasselt, Belgium’s first indoor theme park. The Studio 100 group also acquired Telecoo family park near the Coo waterfalls, changing its name to Plopsa-Coo. This park is a star attraction for the children of both Flanders and Wallonia, enabling them to play together in a fun setting.
Studio 100 has a workforce of 330 FTEs (full time equivalents) and expects consolidated sales to reach 73 million euros this year.