Small-screen success as the Dene Group targets growth
Award-winning north east independent film and television
production company, the Dene Group has secured investment totalling
£795,000 to expand its operations and invest in new equipment.
The Group will also relocate to new headquarters in Ouseburn, in
the heart of Newcastle’s creative hub.
The investment is made up of £500,000 from the Growth Plus Fund
managed by FW Capital, together with £150,000 from the Growth Fund
managed by NEL Fund Managers. Separately, a further £100,000
has been secured through a Grant for Business Investment
administered by One North East. RBS has invested £45,000.
The Growth Plus and Growth funds are part of the Finance For
Business North East Fund.
Set up 19 years ago by six-time Royal Television Society winner,
Steve Salam, the Dene Group consists of Dene Films, Qurios
Animation, Metropolis Pictures, Imagine TX post-production and Riff
Raff, an IPTV development company.
Having grown significantly in the last few years, the Group has
achieved a number of new contract wins and has also established
operations in London and Manchester.
The Dene Group is now regarded as the largest provider of
commercials to ITV’s regional broadcast TV teams and has produced
almost 5,000 commercials, corporate films and broadcast TV
programmes. Dene Films has just delivered its first network TV
commission, a documentary for CBBC based around the Michael Palin
centre for children with speech difficulties.
“The Dene Group prides itself on its highly talented production
and creative team and its desire for innovation and quality,” Mr
Salam said. “2010 has been a great year for us winning 4 gongs at
the 2010 Royal Television Society Awards and a further five at the
prestigious IVCA Awards in London.”
Commenting on the investment, he added: “This investment will
underpin our growth strategy significantly and enable us to enhance
our competitive advantage. We’ll be able to purchase updated
equipment and moving to new headquarters will improve our
efficiency. It will also provide us with an injection of
Joanne Pratt, Senior Investment Executive at FW Capital, said:
“FW Capital is delighted to invest in the Dene Group to enable it
to leverage the right level of capital to achieve its expansion
plans. Dene has grown substantially in recent years and FW
Capital’s investment will improve its capitalisation as it
continues to expand.
“The Finance for Business North East Fund is playing an
important role in the growth of businesses like Dene and the North
East Growth Plus Fund can invest between £350,000 and £1.25 million
in a single round in established businesses in the region.”
Jane Siddle, investment executive at NEL Fund Managers, added:
“Dene has built an outstanding reputation in an extremely
competitive sector, and has the management expertise in place to
successfully execute its ambitious business expansion plans.”
Advisors on the deal were Watson Burton (legal to FW Capital),
Hay & Kilner (legal to the Dene Group), Dickinson Dees (legal
to NEL Fund Managers) and Sherpa Business Consultancy (business
advisors to the Dene Group).