Twickenham Studios chair Sunny Vohra has acquired a 6.95% stake in media fund APX Group, becoming one of the main shareholders of its parent company APX Corporation Inc.
Vohra has also joined the board of directors and the acquisition committee.
The deal, which was worth over $70 million, reflects a market cap of $1.1 billion for APX.
Loeb & Loeb LLP’s Mitchell S. Nussbaum advised APX Group on the deal. He is also set to advise the company on other deals ahead of a planned public merger on the New York Stock Exchange later this year.
APX Group has a number of feature and longform projects in the pipeline, including the recently-acquired Bret Easton Ellis drama “American Tabloid.”
Vohra snapped up Twickenham Film Studios – the home of iconic movies including the original “Blade Runner” – in 2012, prompted by his longstanding passion for film.
“I am very pleased to join the APX Group,” said Vohra. “The business structure of APX fits well into my future investment strategy and, of course, my consistent support of the entertainment industry. APX has put together an impressive structure with excellent growth potential guided by a professional Board of Directors. I look forward to working with them.”
Adi Cohen, APX Group’s board chair, said: “Sunny is a personal friend and trusted business associate of mine for many years. His incredible track record and business knowledge and experience will help immensely with the challenges and tasks laying ahead for APX while becoming a public company and a world leader in its field.”
Shelley Hammond Global CEO of the APX Group added: “APX Group’s model has found tremendous success in identifying, partnering with, and investing in industry leading production studios and content facilities across North America, Europe, and APAC. This strategic partnership enables us to accelerate our efforts in building out a world-class network of content facilities spanning film, TV, animation and more as we prepare to go public later this year. Sunny brings to the board remarkable experience and a deep commitment to production.”