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19/12/2019
Cinesite Secures Investment To Enable The Group To Execute Its Strategy
Cinesite has secured investment from Gryphion Capital Investments along with new banking facilities from Barclays and NatWest which amount to US$112m.
Working together Barclays and NatWest will initially provide Cinesite with up to US$52 million for general funding and revolving credit facilities. The independent studio group has a further US$20m in future flexible facilities to deal with acquisition or expansion. In parallel, Gryphion Capital Investments has taken a minority equity position in the company which will further support Cinesite’s strategy for growth.
Headquartered in London, the Cinesite Group operates world class facilities in Berlin, Montreal, Munich & Vancouver. Collectively, it has recently delivered MGM's box office smash The Addams Family, Paramount Pictures' Award-winning Rocketman, Marvel Studios’ record-breaking Avengers: Endgame, Captain Marvel & Spider-Man: Far From Home. The group continues to be a key partner to high end TV and steaming productions, achieving an Emmy for Outstanding Special Visual Effects for the final season of Game of Thrones and delivering high quality fantasy VFX for the soon to be released Netflix series The Witcher.
The business has increased gross revenue by tenfold since 2014 through expanding its creative talent base, building out facilities and acquiring strategic business in key locations while delivering high quality solutions for its customers. As a result, the Cinesite group's creative and technical talent is well placed to meet increasing customer demands for both high-end VFX and animated family entertainment. This demand is partially driven by Netflix, Disney+, Apple and Amazons’ need to offer unique content to win new subscribers as well as the established studios who are also competing for audience dollars. The financing package will help the Cinesite group to facilitate new partnerships and collaborations with leading studios and filmmakers and secure its ability to continue to win market share.
Working together Barclays and NatWest will initially provide Cinesite with up to US$52 million for general funding and revolving credit facilities. The independent studio group has a further US$20m in future flexible facilities to deal with acquisition or expansion. In parallel, Gryphion Capital Investments has taken a minority equity position in the company which will further support Cinesite’s strategy for growth.
Headquartered in London, the Cinesite Group operates world class facilities in Berlin, Montreal, Munich & Vancouver. Collectively, it has recently delivered MGM's box office smash The Addams Family, Paramount Pictures' Award-winning Rocketman, Marvel Studios’ record-breaking Avengers: Endgame, Captain Marvel & Spider-Man: Far From Home. The group continues to be a key partner to high end TV and steaming productions, achieving an Emmy for Outstanding Special Visual Effects for the final season of Game of Thrones and delivering high quality fantasy VFX for the soon to be released Netflix series The Witcher.
The business has increased gross revenue by tenfold since 2014 through expanding its creative talent base, building out facilities and acquiring strategic business in key locations while delivering high quality solutions for its customers. As a result, the Cinesite group's creative and technical talent is well placed to meet increasing customer demands for both high-end VFX and animated family entertainment. This demand is partially driven by Netflix, Disney+, Apple and Amazons’ need to offer unique content to win new subscribers as well as the established studios who are also competing for audience dollars. The financing package will help the Cinesite group to facilitate new partnerships and collaborations with leading studios and filmmakers and secure its ability to continue to win market share.
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