LONDON U.K. private equity firm Endless LLP has teamed with the management of London-based digital vfx house Cinesite to acquire the company from its cash-strapped parent, Kodak.
The value of the deal was not disclosed but Cinesite toppers said it will provide the resources to expand business into new countries and diversify services.
Cinesite is one of the big four vfx houses in Soho, the capital’s film district. Its credits include the “Harry Potter” franchise, “John Carter,” “X-Men: First Class,” “Pirates of the Caribbean: On Stranger Tides” and the upcoming “Skyfall” and “World War Z.”
“I feel we are moving Cinesite into a new era,” said Cinesite managing director Antony Hunt. “The partnership with Endless is a great strategic move for both parties.
“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.”
Endless managing partner Garry Wilson 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 TV shows they have been involved in, and their BAFTA, Emmy and Oscar-winning work.”