UK private investment firm buys Cinesite
Private equity house Endless LLP has acquired visual effects house Cinesite from Kodak for an undisclosed amount.
Cinesite, established in 1991, has provided VFX services for major films and tv series, including recently the Harry Potter series, John Carter [pictured], X-Men: First Class, Rome and Band Of Brothers. The company is currently working on the adaptation of Max Brooks’ bestselling zombie epic, World War Z. The deal involves Cinesite’s existing management team, supported by its new investment backer. It is hoped that the acquisition will help Cinesite diversify its services and expand its reach into new territories.
Endless LLP, established in 2005, is a UK based private equity house with more than £500 million under management and is currently investing its third fund of £220 million. Endless has recently completed several other non core transactions including Crown Paints and Acenta Steel Ltd.
Garry Wilson, Managing Partner at Endless LLP, said “Cinesite is one of the world’s most respected visual effects companies. We were truly impressed by the potential of their creative talent, breadth of blockbuster films and television shows they have been involved in, and their BAFTA, Emmy and Oscar-winning work. We’re excited to be helping Cinesite with its next stage of growth and are convinced our partnership will help them continue to expand their long-standing and successful global brand.”
Antony Hunt, managing director of Cinesite, reiterated Endless’s enthusiasm: “I feel that we are moving Cinesite into a new era. The partnership with Endless LLP is a great strategic move for both parties and we’re delighted to have their support and investment behind us. This takeover sale will give us the opportunity we need to grow our talented team to ensure we remain at the forefront of the visual effects industry for many years.”
Cinesite has prided itself on discovering and nurturing talent within the industry and runs a successful annual internship programme called Inspire. Inspire candidates have gone on to work on some of the world’s largest blockbuster movies and TV shows.