Nexxus Iberia announces that Nexxus Iberia Private Equity Fund I, FCR (the «Fund») completed its third investment in TwentyFour Seven (“24.7”) on December 19th 2019.
Founded in 2004, 24.7 is the leading company in Spain dedicated to the production of spots for advertising campaigns for international brands. The Company offers a global coordination service for audio-visual productions, including the identification and management of locations, the selection of talent and the physical recording of the scenes. It has the most extensive network of offices in Iberia, with presence in Madrid, Barcelona, Palma de Mallorca and Lisbon, which allows to offer its clients a differential local knowledge and greater agility in their services.
24.7 is positioned as the servicer of reference for international producers, advertising agencies and brands that see in Spain a perfect destination for the production of their campaigns. Today, 100% of the Company’s clients are international, with the United States, Great Britain, France and Germany being the main markets. Additionally, during the year 2019 24.7 has launched its second international office in Poland by creating a Joint Venture with Radioaktive Films, based in Kiev and also a leader of the region. 24.7 is the pioneer in Spain to expand operations to Eastern Europe, a market with growing popularity in the production services industry.
From Nexxus Iberia, we fully trust the potential of 24.7. The Company has a very attractive positioning to benefit from the increase of audio-visual consumption in the advertising industry as a main communication tool, both in offline and online platforms.
Alejandro Diazayas, partner of Nexxus Iberia commented: «24.7 is a good example of the company that we seek to invest in, with a clear international angle and a top-level management team. Since day one, we have been impressed with the professionalism and ambition of the entire team. Its track record to date is extraordinary, having positioned the Company as the leading brand in Iberia. We hope that, together with Nexxus, we can continue building a leading group in the international production services industry “.
Ivo Van Vollenhoven, co-founder and President of 24.7, commented: «Our partnership with Nexxus Iberia is another step in our vision to continue growing and strengthening 24.7. We are excited about this new stage, in which we believe that the previous investment experience and internationalization of companies of Nexxus’ team can be differential«.
Gloria Ochoa, co-founder of The Company, explained: “We are proud, and with extra motivation, of completing this transaction with Nexxus Iberia. We are convinced that they will help us to continue improving the management and professionalization of the group, with the only objective of continue serving our clients with the best quality possible«.
EY has been the principal advisor of the transaction to Nexxus Iberia (due diligence and legal advice).
Auren acted as advisor of The Company.
Example of shooting performed by 24.7