15 Jul 2022

MBO at leading set design and build business 4Wood TV and Film

4Wood designs and builds sets for high-end TV and film productions

Connection Capital, the specialist private client alternative investments business, has completed a £6.4 million investment in the management buyout (MBO) of 4Wood TV & Film Ltd, one of the UK’s leading creators of TV and film sets.

PKF Francis Clark supported Connection Capital on the transaction by providing a full suite of financial and tax due diligence, tax structuring and deal support services.

Cardiff-based 4Wood designs and builds sets for a host of blue-chip clients including the BBC, Sky, Netflix, Disney+, Universal and HBO, with its creations featuring in productions such as Doctor Who, Sex Education and A Discovery of Witches.

The PKF team members demonstrated their willingness to go the extra mile to support us through the transaction, adapting to changing timelines, working efficiently and collaboratively with the management team to minimise disruption to the business’s underlying operations, and bringing a commercial perspective

Sam Phillips, transaction services director at PKF Francis Clark in Bristol, said: “Having previously worked with Connection Capital on their investment in online beauty retailer Gorgeous Retail Group, it was great to support the team on another interesting deal. Our work helped to confirm the strong investment case Connection Capital had identified for its community of private investors.

“With its dominant share of the thriving high-end TV and film set production market in south Wales, 4Wood is well placed to capitalise on the growing demand driven by competition between TV, streaming and film companies. Following the MBO, we look forward to seeing the management team build on the success of the business to date with the backing of Connection Capital.”

Filming on the Sky drama A Discovery of Witches, on the set created by 4Wood

PKF Francis Clark’s transaction support team also comprised Paul Crocker, Matt Pearce and Adam Keelty, with tax advice provided by Adam Kefford, Lisa Cruise and Callum West.

Miles Otway, partner at Connection Capital, said: “We were very pleased with the PKF teams who provided financial & tax due diligence and tax structuring advice on the MBO of 4Wood TV & Film.

“Throughout the process, the PKF team members demonstrated their willingness to go the extra mile to support us through the transaction, adapting to changing timelines, working efficiently and collaboratively with the management team to minimise disruption to the business’s underlying operations, and bringing a commercial perspective which is always incredibly valuable in a private equity process.

“PKF’s high quality and focussed reports added significant value to our transaction and process, and we look forward to working with them again in the future.”

The £9 million MBO of 4Wood was supported by a senior debt package from Virgin Money (Clydesdale Bank).

Read about more deals PKF Francis Clark has helped to make happen.

Latest news

Case study: The impact of inheritance tax on pensions after April 2027

8 September 2025

Read

What is business property relief? A summary guide for UK business owners

3 September 2025

Read
A coffee shop worker fills in paper work while sated at a high bar.

R&D claim notification form: Deadline approaching for March year ends

1 September 2025

Read

100 colleagues and counting for our Bristol office

1 September 2025

Read

Could your trust face unexpected inheritance tax charges?

28 August 2025

Read
Employees of an international law firm sitting at a large table in a well-lit conference room.

Payrolling benefits in kind changes: How to prepare early for HMRC changes 

27 August 2025

Read
Two ladies talking in a zero-waste food shop.

Exit strategy and business succession: what are your options?

26 August 2025

Read
A male and female co-worker sit in an office looking at a computer tablet.

A practical guide to UK corporate tax governance in 2025

25 August 2025

Read

Family business succession planning: What every family business needs to know

22 August 2025

Read

Capital allowances for property investors: What you can and can’t claim in 2025

14 August 2025

Read
Two colleagues deep in thought discussing what they see on a laptop

Understanding HMRC trivial benefits: What employers need to know

13 August 2025

Read
Group of people smiling in office

National Minimum Wage increases and the Alabaster Rule

13 August 2025

Read