At the time of realisation Hat Trick was one of the UK's leading independent television production companies, specialising in comedy, drama and light entertainment programming. Since the business was founded in 1986, it was at the forefront of its sector with regards to the ownership and exploitation of intellectual property rights.
Hit television series included; Have I Got News For You, Whose Line is it Anyway?, Room 101 and The Kumars at Number 42. Recent shows include an animated comedy, Bromwell High, The Armstrong and Miller Show, Mutual Friends, Fonejacker and Outnumbered.
The management team was led by Jimmy Mulville, an original founding director.
Added Value
August Equity managed funds invested £9.0 million of replacement capital in 2003. During the investment period August Equity aided the recruitment of a chairman and a financial director which led to improved corporate governance and financial controls.
Realisation
August Equity managed funds realised part of the investment in Hat Trick in 2007 when Hat Trick sold its 50% owned subsidiary, 12 Yard, to ITV plc for £26 million. This enabled Hat Trick to repay some if its loan notes invested by the fund. The realisation of Hat Trick was completed in 2009 when the company redeemed the remaining loan notes and repurchased the shares.