New Hollywood owners of Troy and Ardmore studios pledge to boost productions in Ireland

MBS Group plans to build on the success of the studios

Matt Damon on the set of 'Last Duel', which was filmed at Ardmore Studios.

Troy Studios in Limerick and Ardmore in Co Wicklow — Ireland's largest television and movie production facilities —
have been sold to a Hollywood production giant which has pledged to boost both Irish and international productions at the studios.          

Olcott Entertainment, which owns the two studios, has invested €30m in the facilities in recent years and although no price has been disclosed, the sale price is believed to be in excess of €80m.                       

Olcott Entertainment's shareholders include Joe Devine, as well as Ossie Kilkenny and Siún Ní Raghallaigh. 

The new owners, Hackman Capital and its MBS Group, along with Square Mile Capital, said the Irish studios will fit into its existing worldwide production network. 

They envisage no changes to the Troy and Ardmore names and chief executive of Ardmore and Troy, Elaine Geraghty, will also stay on in that role. 

The Los Angeles-based partners said they have €3.6bn in facilities and services at more than 65 locations around the world, and have some of the best-known media brands, including The Culver Studios, Sony Animation Culver City, Eastbrook Studios London, and The Wharf Studios London.

Ardmore, which was set up over 60 years ago, made its name for its work on My Left Foot and Mel Gibson’s Braveheart. 

It has been involved in recent times with The Last Duel, which stars Matt Damon, as well as AppleTV+’s Foundation, and Winx for Netflix. 

It has over 140,000sq ft of stages and 160,000sq ft of other buildings. Troy Studios in Castletroy has 100,000sq ft of stages and production facilities of 250,000sq ft.

Ms Geraghty said Hackman Capital, Square Mile Capital, and The MBS Group will build on the success of the studios.

The acquisition "solidifies the ambition of the industry, and will bring new opportunities in line with the Government's ambition to establish Ireland as a global hub for the production of film, TV drama, and animation", she said, amid huge demand for television content around the world.

“Ireland is a superb destination for production, with the richness of its natural landscape, it’s indigenous content industry and it’s skilled production crews," said Michael Hackman, chief executive at Hackm.