Wednesday 23 October 2019

Security tycoon Kelly moves to invest €1m in Troy Studios

Troy Studios will produce a €45m series for Apple TV. Photo: Bloomberg
Troy Studios will produce a €45m series for Apple TV. Photo: Bloomberg
John Mulligan

John Mulligan

Gerard Kelly, who secured a multi-million euro windfall when he sold his alarm-making firm HKC last year, has invested €1m in Limerick's Troy Studios.

It is the first time that Mr Kelly has invested in the studio, which is located at a premises previously used as a factory by computer-maker Dell.

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Troy Studios is headed by chief executive Siún Ní Raghallaigh, who helped to spearhead the creation of the production base. Its chairman is Joe Devine, a founder of Ion Equity.

Last year, Mr Devine led the acquisition of Ardmore Studios, where Ms Ní Raghallaigh is also chief executive. Ardmore was sold for about €6.6m.

Troy Studios has been successful in attracting some big productions, including the Netflix science fiction TV series 'Nightflyers', based on the novels of George RR Martin.

Troy Studios has recently agreed a €45m deal to film a series called 'Foundation', which will be screened on Apple's TV streaming service.

Irish Independent

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