Swedish Shortcut Media Group acquires 60% stake in Good Motion AB, a Stockholm-based production studio specializing in high-end 3D animation and visual effects.
google translated press release
Shortcut Media acquires 60% stake in Good Exercise AB, a Stockholm-based production studio specializing in high-end 3D animation and visual effects for advertising and corporate film, television and drama. Good Exercise employs six people and had sales in 2015 about 5 million, with an operating margin of approximately 5%. Purchase price paid partly in cash at closing, partly through cash installments over three years.
The acquisition strengthens Shortcut Media Group's capacity and expertise in high-end graphics and postproduction sigifikant. This investment supports Shortcuts ambition to become the country's leading independent production group in film production in the short format. There are also opportunities for revenue and cost synergies, when the companies' operations and customer groups complement each other.
Good Exercise will continue to operate its business under existing brand and management. The company's founder Gustaf Jannerfeldt and Petter Bergmar remains as a partner in the business.
- As a small company in 3D graphics, visual effects and postproduction, we saw many benefits of belonging to a larger network. Through close cooperation with several operators, we can streamline our operations and make more long-term investments in new technologies and formats in 3D, VR, digital, etc.. The deal also means great growth opportunities for Good Exercise, where the most important thing for us is to be even better at our craft and continue to deliver an awesome service to our customers, says Gustaf Jannerfeldt, CEO of Good Exercise.
- We are very pleased to welcome Good Exercise for Shortcut family. Since we have already partnered with Good Exercise of productions today, we know that they hold ultimate top class in everything they do. We therefore look forward to deepen our cooperation even further, says Anders Brinck, CEO of Shortcut Media Group.
Shortcut Media Group consists of Bond Street, Film, Shortcut Post, Good Exercise, Shortcut and Film Shortcut Graphics and is a Stockholm-based, fast-growing, independent production group, among others. a. provides film production, post production, graphics, trailers, 3D animation and visual effects. In 2015, Group sales totaled about 34 million and employed an equivalent of about 35 full-time positions.