ADF’s stock exchange listing raises £15m
Long-established production facility provider, Facilities by ADF, has raised £15m through listing on the stock exchange.
Last week, the company announced the admission of its entire issued ordinary share capital to trading on AIM, a market operated by the London Stock Exchange, on 5 January, and the result values the company at £37.8m.
The fundraising included the placing of 30,000,000 new ordinary shares, raising gross proceeds of £15m for the company and 6,788,000 existing ordinary shares, raising gross proceeds of £3.4m for certain selling shareholders, in each case at the placing price of 50p.
The money raised will be used to acquire new equipment to deal with the growing demand in the industry, and to strengthen the company’s balance sheet.
The company is also due to open a new operational base at Longcross Studios this spring.
ADF was established in Bridgend in 1992, as Andy Dixon Facilities; Dixon says he found himself in the film and TV sector by default. An old bus became his first diner, followed by a small honeywagon that he painted himself.
Media logistics expert Steve Haines then joined the company as things took off for ADF in the screen sector. Thirty years on, and the company has more than 500 location vehicles, able to service 20 productions at any one time. The fleet provides on-location spaces for make-up, costume and artiste trailers, production offices, mobile bathrooms, diners and school rooms.
ADF has worked with companies such as Netflix, Sky, BBC, ITV, Disney, HBO, and Apple, and productions such as The Crown, Gangs of London, and Peaky Blinders. ADF is estimated to have a 35% market share of providing such facilities to the UK HETV market.
Marsden Proctor, CEO, said: “The UK is enjoying a boom in investment in infrastructure and High-End TV & Film production. Driven by the world’s streaming giants and their subscribers’ insatiable appetite for box sets & films.
“According to the British Film Institute making film and High-End TV shows in 2021 will have hit £6bn, more than double the spend in 2020. As an established business with a reputation for excellence, high quality production facilities and a strong network of contacts throughout the industry, we are very confident in the long-term opportunities for the Company.”
Also on The Knowledge
Creative Enterprise has announced the latest round of applications for its screen business growth initiatives in the English regions.
Indielab has announced the 15-strong cohort of independent TV production companies that will join its 2022 TV Accelerator programme.
Channel 4 and Create Central are joining forces to support and nurture the West Midlands’ TV production sector.
The London Screenings, Film London’s export market dedicated to UK film, is returning this June as a live event, after two years of having to switch to online due to the pandemic.
The BBC has confirmed the return of four of its high-rating dramas: The Responder; Vigil, Time and The Tourist – all greenlit for second runs.
The Broadcast Indie Summit is back with a packed programme featuring 40 commissioners and indie bosses as it becomes the first major in-person conference pitched at the production community for two years.