ACF partners with TPC, one of the largest independent content financiers in the industry
ACF Investment Bank (“ACF”) is pleased to announce its partnership with TPC, one of the largest independent content financiers in the industry.
This year, ACF sold a majority equity stake to The Forest Road Company (“FRC”), a Los Angeles-based investment firm. FRC is also the parent company of TPC, which has grown into one of the largest independent content financiers in the industry. Since its founding in 2009, TPC has deployed approximately $100 million annually and has been involved in over 1,500 productions.
This strategic partnership leverages ACF’s expertise and resources to expand access to TPC’s innovative financing solutions for new content partners on a global scale.
“Having a world-class leading financier in our group allows ACF and TPC to deliver an expanded integrated solution in an evolving dynamic environment. Together, TPC and ACF are poised to redefine media financing, offering clients greater flexibility and expanded resources in an era of dynamic global media production.”
Thomas Dey, Chief Executive Officer, ACF Investment Bank
“Recognizing the substantial shift in production moving to Europe, this expansion is a natural evolution of our strategic vision to better support our clients more directly, globally. By establishing a presence in London, we aim to provide localized expertise and tailored financing solutions that meet the unique needs of European productions. We are excited to collaborate with local talent and partners to drive innovative projects that resonate on a global scale.”
David Gendron, Chief Executive Officer, TPC
About ACF
ACF is a leading global investment bank specializing in innovative M&A financing solutions for businesses and Intellectual Property owners in the media and entertainment sector. With over 30 years of experience, ACF’s team advises clients on selling, buying, fundraising, and securitization. ACF has completed over 120 media and entertainment deals with a total deal value exceeding $6 billion. ACF has offices in Los Angeles and London.
ACF has advised on several high-profile transactions, including: GKIDS sale to TOHO Co Ltd, Two One Five Entertainment’s investment from North Road Company, Shamrock Capital’s investment in Boardwalk Pictures, sale of Critical Content to SK Global, sale of 72 Films to Fremantle, securitization of Syco Entertainment’s Got Talent Franchise, and the iconic sale of The Lord of the Rings and The Hobbit IP to Embracer Group.
ACF’s clients span across the globe, including regions such as: United Kingdom, Europe, North America, Latin America, Middle East and Africa.
ACF Deal Highlights
Sale of The Lord of the Rings and The Hobbit IP to Embracer Group
ACF advised The Saul Zaentz Company on the sale of The Lord of the Rings and The Hobbit IP to Embracer Group. This deal included rights across multiple areas: motion pictures, video & board games, merchandising, theme parks, stage productions. The intellectual property includes J.R.R Tolkein’s iconic literary works, specifically The Hobbit and The Lord of The Rings trilogy, which consists of The Fellowship of the Ring, The Two Towers, and The Return of the King.
Advised Syco Entertainment on the Securitization of the Got Talent Franchise
ACF advised Syco Entertainment in raising $125 million to create an acquisition fund aimed at expanding its global entertainment empire. This deal was groundbreaking as it involved the securitization of the Got Talent Franchise – the first deal of its kind in the industry. The securitization included ownership of the Got Talent Intellectual Property, which has become one of the most successful global entertainment franchises.
Advised GKIDS Inc on its sale to Toho Co. Ltd
ACF advised GKIDS Inc., an award-winning animation producer and distributor, on its 100% equity sale to Toho Co. Ltd., a leading Japanese entertainment company. Toho is renowned for creating and owning Godzilla and was founded in 1932. This deal highlights the global reach of animation and underscores the growing international interest in animated content.
Sale of Paddington Bear IP to StudioCanal
ACF advised Paddington and Company Limited on the sale of the iconic Paddington Bear IP rights to StudioCanal. This deal included rights to television, merchandising, live entertainment, video games and theme parks, allowing StudioCanal to capitalize on the growing global success of the brand. Paddington is the 4th most valuable global character brand.
Advised Bear Grylls on sale to Banijay
ACF advised Bear Grylls on his sale to Banijay, which led to the formation of the The Natural Studios – a premiere home for adventure content. The Natural Studios aims to become the global go-to adventure TV/Film production studio across all platforms. Bear Grylls’ shows have garnered a massive global audience, with over 2 billion viewers worldwide.
Advised Plimsoll Productions on investment from Lloyds Development Capital
ACF advised Grant Mansfield and Plimsoll Productions in creating an innovative super indie. The deal involved investment from Lloyds Development Capital, a private equity firm, and valued Plimsoll Productions at over $100m. This strategic move positioned Plimsoll as a leading player in the industry, combining the creativity of an indie production company with the financial backing of a private equity partner.
About TPC
Founded in 2009, TPC (formerly Three Point Capital) is a premier provider of film financing, production services, and media investment solutions. Established by three former bankers to transform independent film financing, TPC has expanded from New York state tax credits to supporting over 30 jurisdictions worldwide. With offices in Los Angeles and London, TPC’s team of over 50 professionals has facilitated more than 700 films and 800 commercials. Dedicated to fostering creativity and innovation, TPC offers a comprehensive range of services tailored to meet the evolving needs of producers in film, television, and commercial production.
Beyond its core collateralized production financing and expansion into gap financing, TPC has evolved into a full-service provider, offering a comprehensive suite of services including commercial production services, tax credit administration and placement, production advisory services, and streaming licensing fee factoring. These diverse services have made TPC an indispensable partner in film, television, and commercial production, helping clients navigate an increasingly complex production landscape.
This year, TPC’s support for high-profile projects continues with the financing of Longlegs, starring Nicolas Cage and Maika Monroe, a breakout film that has become one of the highest-grossing independent films in over a decade. TPC also financed the upcoming film The Monkey, based on Stephen King’s acclaimed short story, featuring Theo James and Elijah Wood, slated for a February release by NEON.
Legislative Changes
In October 2024, the UK Independent Film Tax Credit (“IFTC”) was passed into law, offering substantial relief for qualifying films. Under this new law, first-time productions with a budget of up to £15 million will be eligible for relief of 53% on qualifying expenditure, and films with a budget up to £23.5 million are also eligible for the IFTC. California’s Governor has also proposed doubling the state’s annual tax credit allocation to $750 million, which, if approved by the State Legislature, would take effect on July 1, 2025. These initiatives represent significant boosts to independent filmmaking in both regions, aiming to stimulate economic growth in the film industry.
In response to these legislative changes and the evolving global production landscape, TPC has expanded into Europe by opening a new office in London. This expansion, bolstered by its recent acquisition of Pipe Entertainment, strengthens TPC’s production services and film finance capabilities across the region supported by key hires Dan Abrams from Pipe Entertainment and Keith Kehoe from Great Point Media, who bring extensive experience to elevate TPC’s client service.
Industry Changes
Broadcasters in both the UK and the US are changing the way they pay for content, a shift impacting many established non-scripted and scripted production companies in the television industry. For instance, broadcasters previously aligned payments with cash flow tied to production milestones. Now, some are shifting to pay only upon completion, following the traditional independent film model.
ACF and TPC are well-positioned to help producers adapt to industry and legislative changes and actively support them through a range of financing and M&A solutions.