The corporate at the back of the Dragon TV and Film Studios in Llanharan has secured £9m in new investment to enlarge amenities after securing a string of latest manufacturing initiatives.
The corporate at the back of the studios, Shadow Holdings, has secured backing from Bergen Finance in considered one of its first lending offers since being arrange in December closing 12 months.
Having noticed main international streaming corporations expanding manufacturing output, Dragon Studios has skilled fast expansion and recognized important new alternatives because it celebrates hundreds of thousands of kilos of latest contracts underneath manner with TV and picture manufacturing corporations in america.
Dragon Studios has hosted a number of prime profile initiatives from Upstairs Downstairs (BBC) to Hollywood studio productions similar to Will (TNT), The Bastard Executioner (Fox), Brave New World (NBC Universal) and Ironclad (Mythic International Entertainment).
The investment can be used to refinance ancient debt.
The studios, on the website online of a former opencast mine, first opened in 2007 with the backing of the past due actor and manufacturer Sir Richard Attenborough. Dubbed ‘Valleywood’ it compromised 4 silent sound levels. However the industry at the back of the preliminary challenge later went bust. The complicated was once got via the present homeowners, headed via director Gethyn Mills, in 2018.
Following the purchase a 5th 30,000 sq toes sound level and manufacturing base have been added, in conjunction with workplaces, dressing rooms and workshop house. Immediately out of doors the levels, there’s a 4 acre gravelled backlot appropriate for development external units, in addition to different development house to be had at the virtually 100 acre website online.
Adrian Hogan, director at Bergen Finance, stated: “We could see straightaway that Dragon Studios was a solid business – it has strong collateral, an impressive track record of investing in improving its assets, a well-connected and knowledgeable management team and great prospects. We are happy to be able to support its continued growth, enabling it to refinance some debt as well as providing additional capital to fund its rapid building programme.
“We pride ourselves on being responsive to clients’ needs and filling a gap in the lending market for providing larger sums, even if the collateral doesn’t immediately tick the standardised criteria for a lend of this size or the business is in a less mainstream sector. It’s great to see our loan being used to fund the expansion of a successful and fast-growing business like Dragon Studios.”
Tom Guy, director of operations at Dragon Studios, stated: “It was once refreshing to discover a lender who’s surely versatile and appears on the larger image – not like conventional lenders who have been involved we didn’t ‘fit into a box’, Bergen have been willing to be informed about our strategic imaginative and prescient and capital expenditure plans.
“They recognised the strength of our collateral and were willing to support us. The team worked hard to get the deal done quickly to meet our timescales and were pragmatic during the legal process, working around any issues.”
Bergen Finance which is headquartered in London and has offices in Leeds and Manchester, is backed by leading European investor and alternative asset manager Arrow Global. It is offering funding of £500,000 to £50m to companies across all sectors. Facilities are secured on real estate.