See-Saw Films, the acclaimed UK indie production company known for hit titles like “Heartstopper” and “Slow Horses,” is signaling a significant shift in its business strategy. Recently, it has engaged ACF, a UK-based investment bank, to evaluate options for potential sale or new investments. This move comes on the heels of a successful period characterized by high-profile projects and a notable international presence. With its headquarters spanning both the UK and Australia, See-Saw has established itself as a significant player in the film and television industry.
The news broke initially through UK trade outlet Broadcast, highlighting the rising interest in the production house as one of the few independent scripted companies of scale left in the market. As See-Saw’s innovative productions continue to gain traction, the company is likely to command a considerable valuation, potentially reaching a low nine-digit figure. This reflects its successful track record and its ability to bridge markets across two continents.
According to recent filings with the UK’s Companies House, See-Saw reported an impressive £122.3 million ($158.8 million) in revenue for the financial year ending June 30, 2023, coupled with a profit of approximately £4.5 million. However, these numbers feature only revenue generated within the UK, leaving out potential earnings from Australian and other international markets. Analysts suggest that this underrepresentation could mean even higher revenue figures, especially given the international success of several projects, which could be appealing to prospective buyers looking for a lucrative investment opportunity in a thriving market.
Sources close to the negotiations have described See-Saw as a “class act,” and interest from potential bidders is expected to be robust. With the industry witnessing a flurry of acquisitions, such as the recent purchase of Caryn Mandabach Productions by Banijay, the timing appears ripe for consolidation in scripted content. Players like BBC Studios and ITV Studios, which have previously partnered with See-Saw in various capacities, may be keen to pursue acquisition talks, potentially reshaping the landscape of independent film and television production in the UK.
Moreover, See-Saw’s recent slate of productions showcases its versatility and creative strength. From the Oscar-winning narrative of “The King’s Speech” to the Emmy-winning series “Slow Horses,” the company’s output resonates with both critics and audiences alike. Their latest works, including Netflix’s “Heartstopper” and Sky’s “Sweetpea,” suggest that See-Saw is not merely resting on its laurels but is continuously aiming to push creative boundaries.
Founded in 2008 by Iain Canning and Emile Sherman, See-Saw Films has evolved under the leadership of Joint Managing Directors Helen Gregory and Simon Gillis. Their vision to create compelling narratives has led to a string of award-winning projects and international co-productions. Additionally, the establishment of Fanboy, a joint venture with “Heartstopper’s” executive producer Patrick Walters, indicates See-Saw’s commitment to nurturing new storytelling experiences.
As See-Saw Films contemplates its future, the potential for expansion through strategic partnerships and investments looms large. With a strong portfolio and an eye for talent, the company is poised to continue its journey in the competitive world of film and television, regardless of the path it ultimately chooses. The industry will undoubtedly be watching closely.