Bowmark Capital announces sale of its interest in RDF Media

RDF Media is one of the UK’s leading independent television production companies, producing programmes such as Wife Swap, Faking It, Dream Holiday Home and Scrapheap Challenge. Recently, RDF’s performance and prospects have been enhanced through implementation of the 2003 Communications Act, reinforcing the transfer of programme rights’ value from broadcasters to production companies.

Bowmark was one of the first investors to identify the potential benefit to production companies from this value transfer. It invested in RDF in April 2001, since when profitability has increased five-fold through the commercial exploitation of programme rights retained by the business. During this period, Bowmark actively contributed to the development of the business, and was represented on the board of the company.

The proceeds received from the sale by Bowmark-managed funds represents a return of 3.3x cost on its investment, and an IRR of 34%.

Kevin Grassby, Managing Director of Bowmark, commented: "We have very much enjoyed working with RDF’s management over the last 4 years. They have successfully grown RDF into a market-leading operator in the factual entertainment sector. I’m sure the IPO will prove to be another step in the successful development of the business.”