Nice Entertainment Group acquires Playroom
CapMan Press Release - 8 June 2012 at 10:00 a.m. EET
Nice Entertainment Group acquires Playroom
Nice Entertainment Group (Nice), a pan-Nordic content production group, has
signed an agreement to acquire Norwegian event management company Playroom AS.
Following the acquisition, Nice will significantly increase its market share in
Norway´s branded entertainment market and further reinforce its position as the
leading independent television production company and entertainment group in the
Nordic region. Nice is jointly owned by funds managed by CapMan, the current
management team and key employees. Playroom´s founders will also become
shareholders of Nice.
Founded in 2001, Playroom is an entertainment house focused on experience-based
communication through event management, artist management and record production.
The company has grown significantly in recent years and is today one of the
leading and most innovative event companies in Norway.
The acquisition will strengthen Nice´s position in Norway as Playroom
complements Monster, Nice´s Norwegian television and commercial production
business. Through Playroom, Monster is able to access a more diversified client
base, expand offerings to existing clients, reduce time to market for events,
and increase revenues through utilization of established television concepts and
media production capabilities at Playroom events. The transaction also
facilitates the creation of a pan-Nordic event platform through cooperation with
other companies under the Nice umbrella. The combined business is estimated to
generate approximately EUR 120 million in 2012.
"Playroom is an ideal fit with Monster as we strive to expand Nice within
branded entertainment. The prerequisite of success in this rapidly growing
segment of the entertainment industry is a strong foundation that consists of
excellent players from different market segments. Co-operation between Norway
and Sweden in terms of event management is an additional rationale behind the
Playroom acquisition. In light of the growing interest in branded entertainment
across the Nordics, we have a lot to gain from the development of a joint
customer base and the utilization of program formats for events, " says Morten
Aass, CEO of Nice.
"Playroom has co-operated with Monster since our inception. Over time, our
partnership has evolved from television production to delivering a combination
of programming and events. Our being part of the same family is a natural
development of our shared history and will strengthen our offering to our