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Hollywood Media Services, a provider of facilities and services, such as make-up trailers and catering to the film and television industries, has been admitted to AIM. The initial public offering (IPO) raised £850,000 before expenses at 3p per share.

The proceeds of the IPO will enable Hollywood to expand its fleet and to buy outright equipment, which previously had been on expensive hire purchase.
With the admission of its shares on AIM, Hollywood has become a holding company with the strategy of expanding organically and by acquisition to create a group of businesses focused on providing services in the media and events sectors.

Hollywood chief executive and acting finance director, Martin Eberhardt, said: “We’re delighted to have joined AIM. Hollywood now has a solid platform from which to implement the board’s strategy to develop the group further and to deliver future shareholder value.”

Hollywood was advised on legal issues by Grundberg Mocatta Rakison LLP (GMR). The legal team was led by GMR partner Richard Beresford and included senior associates Mehboob Dossa and Mark Langford, and trainee solicitor Christian Bjarnram.

Beresford said: “Although this was a relatively small float, it threw up some interesting issues along the way and we are now looking forward to helping the Hollywood team implement the buy-and-build element of their strategy over the coming months and years.

“Hollywood is also part of a trend towards GMR getting involved in a growing number of purely domestic floats. Up until now, GMR’s AIM work has tended to reflect our broader international focus and has been, to a large extent, cross-boarder in nature. Whilst we are still seeing a significant and growing interest in AIM from abroad we are currently acting on a number of UK-only floats,” he added.

Hollywood was established in 2005 and its clients include the BBC, ITV, independent film and drama production firm Company Pictures and Rollem Productions as well as specialist production companies.

Bircham Dyson Bell partner Andrew Chadwick acted for the company’s nominated adviser, City Associates Limited.

Hollywood’s turnover for the year to December 2006 was £1.1 million, up 394 per cent on the previous year, with post-tax profits of £64,000, compared to post-tax losses of roughly the same amount for 2005.

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