The first project to go under the production arrangement is the action thriller Skyscraper based on an original idea by Mike Sobel.

Walker, who helped Universal to great success with the 2011 global smash Fast Five, will produce and star in the film alongside Neil Moritz’s Original Films.

“I’ve had a long and successful relationship with Universal so it’s the obvious and ideal home for Laguna Ridge Pictures,” Walker said. “I’m excited to expand my relationship with them and with Neil, who has been a catalyst and a guide throughout my career. Having the support of Jim Berkus, Theresa Peters and Chris Hart at UTA, along with my manager Matt Luber and my producing partner Brandon Birtell, now is the time to take this next step.”

“It is impossible that the Fast And Furious franchise would have become the phenomenon that it has without Paul’s imprint on the series,” Universal chairman Adam Fogelson and co-chairman Donna Langley said in a joint statement. “We’re excited to be the beneficiaries of his creative work as he branches out as a filmmaker and tackles projects as a producer.”

Fast Five grossed more than $630m worldwide to become one of the studio’s biggest films. Production on Fast & Furious 6 starring Walker is scheduled to commence this spring.

Walker is also attached to star in and serve as executive producer on the thriller Hours alongside producer Peter Safran’s Safran Company. The story takes place in post-Katrina New Orleans and is set to begin production in April. 

Walker recently starred in and served as executive producer on Vehicle 19, also with the Safran Company producing. 

He runs Laguna Ridge Pictures with Brandon Birtell and manager Matt Luber. Walker is represented by Luber of Luber Roklin and UTA.