De Maio Entertainment to act as strategic advisor following deal for Irish indie
Fremantle has acquired Element Pictures, the Irish indie behind Sally Rooney adaptation Normal People.
Spearheaded by Andrea Scrosati, Fremantle group’s chief operating officer and continental Europe chief exec, alongside Lorenzo De Maio of De Maio Entertainment, the majority stake deal forms move part of the super-indie’s plan to grow its turnover to £2.5bn by 2025.
Fremantle-backed De Maio Entertainment will be a strategic advisor and partner across Element’s slate.
Element was established 21 years ago and is led by co-founders Ed Guiney and Andrew Lowe and works across production, distribution and exhibition. It has offices in Dublin, Belfast and London.
As well as BBC3’s Rooney adaptations Normal People and the upcoming Conversations with Friends, Element is responsible for BritBox’s The Dry, which launched last week, and BBC1’s Dublin Murders, which was co-produced with Fremantle-backed Euston. It is also behind Oscar-winning films The Favourite and Room.
Other recent Fremantle investments include acquiring 12 production labels in Norway, Sweden, Finland, and Denmark from Nordic Entertainment Group (NENT Group), scripted Italian production company Lux Vide (Devils, Leonardo), international development and production company Fabel (Bosch) and Australian-American television production company Eureka Productions (Parental Guidance, Finding Magic Mike).
Last month, Fremantle increased its stake in scripted label Dancing Ledge.
Guiney and Lowe said: “Collaborating closely with Jen, Andrea, Lorenzo, Christian, Jens, and their brilliant team will allow us to build on and grow our existing relationships with the very best creators in the world and expand our capacity to make exceptional film and television drama for international audiences.”
Scrosati said: “[Ed and Andrew] have built an astonishing company, which has become one of Europe’s most exciting and innovative creative production companies. We look forward to working closely with their immensely talented creatives, helping to build on their slate of high-quality, sophisticated, and powerful productions. Creative freedom will sit at the very heart of this partnership.”