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Madman deal keeps the lawyers happy
A Melbourne-based boutique has acted for the sellers of a leading independent film distribution company.
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Firms: Clarendon Lawyers (Funtastic Limited); Thomson Geer (Madman Group of companies)
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Deal: Funtastic has sold the Madman group of companies to Madman Film and Media Pty Ltd
Value: $21.5 million
Area: M&A
Key Players: Clarendon’s team was led by directors Tony Symons (pictured) and Robert Josephs, who were assisted by associate Billy Dwyer. Thomson Geer consultant Peter Nankivell acted for Madman Film and Media Pty Ltd
Deal Significance: This deal sees Madman founders Tim Anderson and Paul Wiegard join together with a group of investors to buy back the business from Funtastic. Madman distributes many independent films and TV series throughout Australia. It additionally has distributed a coterie of established titles such as Midsomer Murders, Alfred Hitchcock Presents and the Manga animation series. “The sale represents a key divestment for Funtastic,” said Symons. “For our firm to contribute to the achievement of such a strategic goal is extremely pleasing.” Funtastic has recently been in the news after the toy distributor downgraded its full-year earnings outlook in June and its chief executive resigned.
