Matthews Studio Equipment Group has announced it has acquired production equipment supplier Olesen, a unit of Entertainment Resources Inc., for $2 million.
Officials of the Burbank-based lighting and equipment supplier said the operations of Los Angeles-based Olesen will be merged into Matthews Expendable Supply Stores. Matthews plans to retain Olesen’s management team, including prexy Marge Romans.
“We have known and transacted business with Olesen and Marge Romans for several years, and it is an honor to have Marge and her staff as part of our company to expand product line in the theatrical and international markets,” said Matthews chairman and chief exec Carlos DeMattos.
Expendable Supply distributes motion picture, television, theatrical equipment and expendable supplies.
Matthews Studio, which makes, sells and rents grip, lighting, video and film equipment, had net income of $1 million, or 10¢ a share, on revenues of $30.2 million in 1996.