Houlihan Lokey Advises A Contracorriente Films

Houlihan Lokey is pleased to announce that the shareholders of A Contracorriente Films, S.L. (“A Contracorriente” or “the Group”) have sold a 40% stake of the Group to Suma Capital, S.G.E.I.C., S.A.

Founded in 2009 in Barcelona, A Contracorriente is the leading independent film distribution company in Spain, involved in theatrical exhibition (through the emblematic “Verdi” and “Conde Duque” cinema chains) and co-production activities. The Group has a unique and vertically integrated business model within the Spanish audiovisual market, being present all across the value chain.

A Contracorriente is currently the largest independent film distributor in Spain, managing an extensive and diversified catalogue of more than 1,500 movies and series titles sold across cinema theatres, pay and free TV channels, and VOD platforms, among others. The Group’s catalogue consists of quality films suitable for the general public, mainly focusing on comedies and family movies.

Since its foundation, the Group’s acquisitions team has demonstrated a unique ability to identify, acquire, and distribute some landmark movie productions, such as The Intouchables, The Father, Serial Bad Weddings, The Best Summer of My Life, Mia and the White Lion, and Ballerina, among others. The Group’s exhibition activities consist of the management of five emblematic movie theatres in Madrid (3) and Barcelona (2), with a total capacity of more than 4,000 seats. In addition, A Contracorriente is involved in movie production activities, allowing the Group to ensure the global distribution rights in several Spanish and international productions, including films such as The Bookshop, Isabel Coixet’s latest success.

A Contracorriente opens up its shareholding to Suma Capital in order to accelerate its ambitions to consolidate its position as one of the leading independent film distributors in Europe. Suma Capital’s financial support will speed up the Group’s transformation and help evaluate different strategic alternatives, both organic and inorganic. A Contracorriente becomes the third investment of Suma Capital Growth Fund II.

A Contracorriente has a solid and very committed management team with an excellent reputation in the sector that has maintained control of the Group and will remain managing the operations on a daily basis.

Houlihan Lokey served as the exclusive financial advisor to the shareholders of A Contracorriente and assisted in sourcing, structuring, and negotiating the transaction on their behalf.

This deal represents another successful transaction for Houlihan Lokey in the media sector and further reinforces its industrial capabilities and dedicated sector expertise. The transaction also exemplifies the firm’s ability to navigate the challenges of the COVID-19 pandemic to deliver outstanding results to clients and highlights its ability to work together with founder-owned businesses.