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Television and new media production company Tinopolis plc has bought Video Arts, a video-based learning provider, in a trade sale for £2.4 million in cash. The acquisition provides an exit for August Equity.

August Equity originally backed the management buy-out of London-based Video Arts in 2000.

Video Arts supplies videos and DVDs of learning programmes to more than 100,000 organisations in 50 countries. It was founded in 1972 by television professionals including actor John Cleese. Video Arts made a £4.9 million turnover and an EBITDA of £671,000 for the year to December 31, 2006.

Tinopolis chairman Ron Jones said: “Buying Video Arts is in line with our stated acquisition strategy of looking for companies that provide value for our shareholders and extend our presence in our major markets. This acquisition moves our existing education and training business in Tinopolis Interactive into a new sector in that industry.”

Based in Llanelli, Tinopolis is the sixth largest television producer in the UK. It generated a turnover of £47.3 million and a pre-tax profit of £1.06 million for the year ended September 30, 2006. The company made a £10.4 million turnover and a £860,000 pre-tax profit for the year before.

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