ITV’s £103.5 Million Acquisition of Plimsoll Productions

Reed Smith has advised ITV on the deal. Osborne Clarke has advised LDC.

ITV announced its majority interest acquisition of Plimsoll Productions for a cash consideration of approximately £103.5 million, valuing Plimsoll at an Enterprise Value of £131 million. 

Plimsoll, founded in Bristol in 2013, is the largest independent producer of natural history programmes in the world and a growing premium factual producer.

ITV will acquire 79.5% of Plimsoll’s share capital from private equity firm LDC, Grant Mansfield and other existing Plimsoll shareholders.

A large cross-practice team at Reed Smith in London advised ITV on the acquisition, which was led by Global Corporate Group partners Philip Taylor (Picture), Stephen Mooney, and Caspar Fox, counsel Ravi Pattani and Rob Lowe, as well as associates Victoria Bryden, George Dunne, Tom Baxter and Emma McGrory.

Osborne Clarke’s team was led by corporate Partner Alisdair Livingstone, who also advised LDC on its minority investment in Plimsoll in 2019. Alisdair was supported by Associate Director James Taylor, Associate Hannah Stevens, Senior Associate Alec Bartlett and Trainee Solicitor David Morgan (Corporate), as well as Partner David Nisbet and Associate Director Rob Thomas (Tax) and Partner Michael Carter (Incentives).

Involved fees earner: Alec Bartlett – Osborne Clarke; Michael Carter – Osborne Clarke; Alisdair Livingstone – Osborne Clarke; David Nisbet – Osborne Clarke; Hannah Stevens – Osborne Clarke; James Taylor – Osborne Clarke; Rob Thomas – Osborne Clarke; Thomas Baxter – Reed Smith; Victoria Bryden – Reed Smith; George Dunne – Reed Smith; Caspar Fox – Reed Smith; Robert Lowe – Reed Smith; Emma McGrory – Reed Smith; Stephen Mooney – Reed Smith; Ravi Pattani – Reed Smith; Philip Taylor – Reed Smith;

Law Firms: Osborne Clarke; Reed Smith;

Clients: ITV plc; LDC – Lloyds Development Capital ;