‘Heartstopper’ Producer See-Saw Films Appoints Investment Bank To Explore Options

UK indie See-Saw Films has appointed an advisor to explore a sale or new investment.

The maker of Heartstopper, Slow Horses and Sweetie has engaged UK-based investment bank ACF to assess its options, Deadline has confirmed. UK trade Broadcast was first with the news today.

See-Saw has headquarters in the UK and Australia. Having been on a hot streak over recent years, during which it has produced multiple films and series on both sides of the pond in recent years, a premium will likely to be demanded and take an agreement into the low nine-figure region.

Filings at the UK’s Companies House filings show See-Saw made £122.3M ($158.8M) in revenue in financial year to June 30, 2023, and profit of around £4.5M. However, these numbers do not include cash made through Australia or other types of overseas turnover, we understand.

Potential bidders have been approached, with interest likely to be high on one of the few non-consolidated scripted indies of scale still on the market. “They are a class act,” said one source.

All3Media CEO Jane Turton recently said her company would look to scripted acquisitions in the next “months or years,” while Banijay bought Peaky Blinders maker Caryn Mandabach Productions earlier this year and could be seeking more deals. The likes of BBC Studios, which previously had a first-look deal with See-Saw, and ITV Studios could also be trade players interested in a deal.

See-Saw is known for its Oscar-winning 2011 film The King’s Speech starring Colin Firth, Elizabeth Moss-starring BBC drama Top of the Lake and the Academy Award-nominated Lion starring Dev Patel. IT also made the film adaptation of Operation Mincemeat and Cannes favorite The Stranger.

More recently, the indie has been producing for Apple TV+’s Emmy-winning drama Slow Horses; Netflix’s Heartstopper; Sweetpea, which launched recently on Sky in the UK and Starz in the U.S.; and One Life Coming up next year is Netflix drama Apple Cider Vinegar.

Iain Canning and Emile Sherman launched See-Saw back in 2008. Helen Gregory and Simon Gillis now lead day-to-day operations as Joint Managing Directors. The company last year launched a joint venture, Fanboy, with Heartstoppper executive producer Patrick Walters. Sweetpea, Kirstie Swain’s adaptation of CJ Skuse’s darkly comic novel was its first production.

We’ve reached out to See-Saw and ACF for comment.