New Ownership for Titan

STOCKHOLM: Swedish production outfit Titan Television and its Norwegian subsidiary Limelight Film&TV have been acquired by the Nordic Northern Alliance Group (NAG).

NAG’s portfolio of companies in the region already includes Monster in Norway, Moskito in Finland, Baluba in Sweden and Gong in Denmark. "As a result of the acquisition of Titan, NAG now is the largest independent company by far on the Nordic market with a turnover of more than 100 million euros," said NAG’s CEO, Morten Aass.

NAG is principally owned by the Nordic risk-capital firm CapMan, which began assembling a network of local outfits in 2008. Titan was founded in 1996 by Thomas Hedberg and Anette Beijer. "Titan’s focus on developing formats is completely in line with NAG’s business concept," Aass continued. "Titan is in a growth phase and has strength in categories that complement Baluba in Sweden. We are very happy that Titan’s founders Anette Beijer and Thomas Hedberg want to be become a part of NAG."

Hedberg, managing director at Titan, added, "Together with Greger Larsson at Stella Advisors, we have looked at different possibilities for continued expansion in the Nordic countries. When we received this possibility with NAG it felt like a perfect way to secure Titan’s continued growth at the same time as we continue as an independent player, though considerably bigger."