See-Saw Films—the British/Australian studio behind hit Netflix teen series Heartstopper (pictured)—is reportedly casting about for potential bidders to either acquire or invest in the company.

See-Saw has contracted investment bank ACF to assess its options, according to reporting from Broadcast. ACF specializes in M&A deals and related services in the media/entertainment sector. It most recently served as an advisor to anime distributor GKIDS on its sale to Japan’s Toho last month.

According to Deadline, a buyout could be valued at a premium price of US$130 million. In its most recent UK filing for the financial year that ended on June 30, 2023, See-Saw posted roughly US$158 million in revenue (not including what was generated in Australia). The report acknowledged a challenging marketplace driven by “tighter budgets and reduced investment from the US studios, streamers and other commissioners,” but emphasized that there had not been any negative impact yet on See-Saw’s pipeline.

The studio has a strong track record for producing prestige films, including Oscar contenders Lion (2016), The Power of the Dog (2021) and Best Picture winner The King’s Speech (2010). 

In 2022, See-Saw made a mark in the kids and family space with its acclaimed web comic adaptation Heartstopper—which just dropped its third season on Netflix last month. This live-action series, which follows the love story between two teen boys, has performed well in both watch time (24 million Netflix views in the second half of 2023) and critical acclaim (five wins at the 2023 Children’s Emmys). Taking another step into the youth market, See-Saw started developing a collection of live-action movies this year based on Michael Ende’s 1979 children’s novel The Neverending Story.

Image credit: Joseph Sinclair/Netflix