Ardmore Studios

#Industry: Olcott Entertainment strikes deal for Ardmore Studios

Ireland’s famous Ardmore Studios has been acquired by Olcott Entertainment, after they struck a deal for Ardmore Studios International Ltd’s 68% holding and Enterprise Ireland’s 32%.

The news alleviates huge concern in the Irish film industry which had feared that the facility would be sold to property developers. New purchasers Olcott hopes to retain Ardmore’s staff, including Siún Ní Raghallaigh as CEO. They will also provide further investment to the facility.

Olcott Entertainment is a private-equity firm fronted by Ion Equity co-founder Joe Devine, who is chairman of Troy Studios in Limerick which also has Siún Ní Raghallaigh as CEO.

Recognised by filmmakers and producers across the world as Ireland’s leading provider of film and TV studio infrastructure, Ardmore Studios has benefited from a significant investment programme in recent years to enhance its facilities and has recorded year‐on‐year growth in profitability.

Situated on 18 acres in Bray, Co Wicklow, Ardmore Studios is the only media hub in Ireland capable of providing production, post-production and support services for full-length feature films and TV productions. Its tenants include a range of film specialists offering pre and post production, as well as support services. Productions currently on site TV series Into the Badlands and Dancing With the Stars and feature films The Rhythm Section and The Turning.

Established in 1958, Ardmore is the largest and only studio in Ireland to offer seven international standard sound stages with full support services on site. A brand that is recognised by producers throughout the world, it has been home to hundreds of international and national films and TV productions over the years including Braveheart, My Left Foot, and Excalibur; and in more recent times The Tudors, Moone Boy, and Penny Dreadful. Productions at Ardmore have received 14 Oscars and many BAFTA, Golden Globe and Emmy awards.

Our interest in the sector is against a backdrop of significant global demand for content and thus for production facilities. The drive for more content is fuelled by ‘big screen’ film, increasingly ‘on demand TV’ and the gaming industry. When coupled with Ireland having one of the more attractive incentive schemes in the world, it makes Ardmore an attractive asset. We have ambitious plans for the business and believe this heralds a new era for these historic studios.
Joe Devine – Olcott Entertainment

The Studios continue to represent a vitally important part of the infrastructure of the Irish film industry. It is very heartening to hear about the commitment of the new owners to their investment in and the development of these historic studios.
Irish Film Board

This is a very positive development for everybody associated with Ardmore and for the broader production sector in Ireland. Quality film studios ensure that the industry in Ireland will scale up and provide significant employment. Olcott has ambitious plans to invest in and to develop the facilities in Ardmore which will ensure that it will continue to compete at the heart of the international film and TV production market.
Siún Ní Raghallaigh, CEO – Ardmore Studios

I welcome the news of the acquisition of Ardmore Studios by Olcott Limited. In the past 6o years, Ardmore Studios has produced hundreds of international and national films and TV productions and the studios continue to represent a vitally important part of the Irish film industry.

Ireland is an attractive location for film production and Olcott plans to develop and expand the Ardmore Studios offering. These ambitious plans will ensure that Ardmore studios will continue to compete at the heart of the international film and TV production market.
Josepha Madigan, Minister for Culture, Heritage and the Gaeltacht