Argonon Ltd… lights, camera, acquisition!

RSM has recently completed financial due diligence on behalf of Argonon Limited in respect of their acquisition of Windfall Films Limited.

The client

Led by CEO James Burstall, Argonon is an international independent production group initially formed by the coming together of four production companies, Leopard Films, Leopardrama, Leopard USA and Remedy Productions. Since its formation in May 2011 the company has continued to expand via acquisition, organic growth, and a series of joint venture deals. Argonon has produced several award-winning programs including Cash in the Attic, the Tourettes series and House hunters, as well as producing most of MTV’s programming in the UK.

Windfall is a multi-award winning, independent TV production company based in London. Founded in 1987 the company has grown to become one of the UK’s leading specialist factual production companies and has produced programming for television channels internationally including Discovery, National Geographic, PBS, BBC TV, Channel 4 and Channel 5.

This acquisition is the largest Argonon has completed since its formation, and provides the management team with an opportunity to accelerate their growth and diversify their production portfolio.


'Windfall was a transformational deal for Argonon as it has allowed us to become a major player in specialist factual market. Our catalogue has significantly grown and we will see further growth through our Canadian and US offices. RSM provided strong financial due diligence for us during the deal and deal advice - we would happily work with them again.'

Laura Bessell-Martin, COO, Argonon Limited

Transaction team

Rebecca Guerin, Partner, T: +44 (0)7932 668 919

Chris Rees, Director, T: +44 (0)7972 004 988

Steve Jacob, Tax Partner, T: +44 (0)7972 004 060