HPP’s Acquisition of Star Waggons and Zio Aligns with its Global Studios Strategy

Hudson Pacific Properties Inc. recently acquired Star Waggons and Zio Studio Services for a combined $222 million in separate transactions. The two transactions, which will be immediately accretive to 2021 and long-term financial targets, significantly expand production services as part of Hudson Pacific’s global studio platform.

These two companies provide transportation and logistics services to studio productions. Star Waggons and Zio Studio Services collectively comprise a fleet of more than 1,100 luxury location trailers, specialized vehicles and other transportation assets as well as complementary equipment for the entertainment production industry.

“Bringing Star Waggons and Zio Studio Services together under the same umbrella with our Sunset Studios business enables us to capture a greater share of production services revenue at our facilities as well as other studios and on location,” said Jeff Stotland, head of global studios for Hudson Pacific. “A broader offering of high-quality production services both streamlines content creation for and deepens our relationships with existing Sunset Studios clientele, while providing access to new customers as well.”

Founded in 1977 by actor Lyle Waggoner, the Star Waggons brand is known for providing luxury- multi-cast, production and other specialized trailers, makeup and wardrobe. Star Waggons has a fleet of more than 650 trailers with operations in Los Angeles, Albuquerque, Atlanta and Vancouver. Jason Waggoner, president of Star Waggons, will continue to lead the business and Beau Waggoner will remain at the company as an adviser.

Zio Studio Services offers one-stop transportation solutions and vehicle rental services to content producers.

American Discovery Capital acted as financial adviser to Hudson Pacific and Latham & Watkins served as the company’s legal adviser. Intrepid Investment Bank acted as financial adviser to Star Waggons and Sheppard Mullin acted as its legal adviser. FocalPoint Partners acted as financial adviser to Zio Studio Services and Proskauer acted as its legal adviser.