Distribution specialist Gravitas Ventures has put itself up for sale after being approached by several possible buyers.
Nolan Gallagher, the founder and CEO, told Variety, “As Gravitas celebrates its 10th Anniversary we felt it was a good time to explore our strategic options and potentially take outside investment in our firm.”
Gravitas has retained Salem Partners, a Los Angeles-based investment bank and wealth management firm, to explore its strategic and financial options.
“Gravitas has experienced strong growth since its inception, and 2016 is expected to break records in both topline revenue and earnings.,” the company said Thursday. “The company’s growth has been driven by the ongoing shift within the global entertainment industry towards the digital consumption of content.”
The company releases approximately 400 new release titles every year and has a library of more than 2,000 titles that it distributes across hundreds of platforms worldwide.
“Gravitas is one of the only scalable distributors outside the major studios with the ability to profitably handle such a large volume of titles,” it added.
Recent releases include Jonathan Hock’s “Fastball,” Colin Hanks’ “All Things Must Pass,” “Being Evel” from director Daniel Junge and producer Johnny Knoxville, “Backstreet Boys: Show ‘Em What You’re Made Of,” and “For The Love of Spock” from director Adam Nimoy.
Upcoming releases include Katie Holmes’ feature directorial debut, “All We Had,” on Dec. 9; and “Dying Laughing” directed by Lloyd Stanton and Paul Toogood and featuring Chris Rock, Kevin Hart, Jerry Seinfeld, Sarah Silverman, Jamie Foxx, Steve Coogan, Amy Schumer, Garry Shandling, Jerry Lewis, and Eddie Izzard.
The news was first reported by Deadline Hollywood.