FFI Holdings acquires Signature Entertainment in $5m deal

Entertainment industry completion contracts provider FFI Holdings has acquired Signature Entertainment - one of the largest distributors of films in the UK - it announced on Thursday.

The AIM-traded company said Signature, founded in 2011, has released more than 600 titles and established itself as a leading distributor of diverse entertainment titles to a broad UK audience in cinemas and at home.

It had a “wealth” of industry experience and acted as an aggregator for Netflix, Amazon Prime and Sky as well as other streaming services.

FFI acquired Signature for a consideration comprising initial payment of $5m in cash, followed by four annual payments of 13.75% of Signature's prevailing EBIT at a 5x times multiple.

Signature generated a trailing twelve-month EBIT of approximately $2m.

The acquisition continued to expand FFI'S platform, which now incorporated completion contracts, entertainment risk insurance, a range of post-production services and world-wide distribution capabilities.

FFI's current documentary collaboration with IMAX and Warner Brothers, ‘Pandas’, had now been launched in theatres in the US and was reportedly met with critical acclaim.

“We are delighted to bring Signature Entertainment under the FFI banner,” said CEO Steven Ransohoff.

“We look forward to working with Marc Goldberg and his team as they expand their distribution business which is especially well poised in the streaming arena.

“Signature will afford us excellent opportunities to expand the reach of the rest of FFI's platform into a new captive distribution channel.”