Prime Focus secures $53m investment
Prime Focus’ creative services unit will plough equity from Macquarie Capital into strategic growth.
Prime Focus World, which handles 2D to 3D conversion, visual effects and animation, has secured $53m equity investment.
The investment deal will be deployed in two phases: $38m will be committed in the first phase and $15n in a second transactional phase, both of which are designated for strategic growth.
The capital will be used for the build out of the global creative services platform and near-term strategic acquisitions.
“We are delighted to have found a like-minded financial partner in Macquarie as we continue to execute on our strategy of global growth for our company and shareholders,” said Namit Malhotra, founder and CEO of Prime Focus World.
Macquarie Capital made the investment to Prime Focus World and provided advisory services to PFW’s parent company, Prime Focus.
In addition, Prime Focus World also secured $10m from China’s AID Partners Capital in March and a recent investment of $70m from Standard Chartered Private Equity in Prime Focus Ltd.