STV invests in new production company with Scottish Enterprise

STV today announced that it has become a partner in Scottish Enterprise’s Scottish Co-Investment Fund (SCF); and via this initiative, is making its first investment by participating in a new start-up production company, Kowalski Television Ltd.

The SCF is a £72m equity investment fund established by Scottish Enterprise to invest from £100,000 to £1m in company finance deals of up to £2m. STV has signed up as a partner, identified Kowalski Television as an opportunity in which to invest cash of £125,000 and the SCF will co-invest alongside STV on equal terms, both holding 25% of the new business.

Together, STV and Scottish Enterprise will invest a quarter of a million pounds into Kowalski, which is looking to win commissions from a range of broadcasters in the factual entertainment genre.

Kowalski will be headed up by Simon Howley, an experienced programme maker with a strong track record in factual entertainment. Simon has worked as Executive Producer with Firefly Productions and has produced documentary series for Channel Four, five, Discovery and Sky covering a diverse subject matter.

Kowalski Television will be based at STV’s headquarters at Pacific Quay in Glasgow and will initially comprise a start-up team of three, including Simon as Director, a Development Producer and a Shooting Development Assistant Producer, with scope to increase as the business grows. Kowalski will commence operations at Pacific Quay later this month.

Commenting on the news, Andrew Sloane, senior investment manager at Scottish Enterprise, said: “This is an exciting time for the Scottish Co-investment Fund and we are thrilled to welcome STV on board as a new investment partner. The deal with Kowalski marks our first venture into the world of TV production / programming and we look forward to exploring similar markets with STV and other partners.”

Rob Woodward, Chief Executive Officer of STV Group plc said: “We’re delighted to be a partner in Scottish Enterprise’s SCF and through this, we aim to help drive investment into the creative industries in Scotland.”

Alan Clements, Director of Content at STV added: “STV has a solid vision to drive content production and investing in Kowalski Television is a fantastic opportunity for us. We look forward to working with both Simon and his team at Pacific Quay; as well as completing further investments with the SCF in future.”

Alisdair Gunn, Senior Manager at Wireless Innovation commented "This recent investment provides encouraging signs to the support available for new, emerging companies focused on developing applications and content within Scotland’s Digital Media sector. ”