Accord Financial Corp. has closed a transaction through its Accord Financial Inc. to make a strategic investment in the Santa Monica-based film and television financier BondIt Media Capital for an undisclosed price.
Founded in 2014 by Matthew Helderman and Luke Taylor, BondIt Media Capital has provided financing to more than 200 feature films and television shows resulting in over $200 million of production spending. BondIt titles include Rob Reiner’s “Shock and Awe,” Ambi’s “Finding Steve McQueen,” starring Travis Fimmel and Forest Whitaker, and “All the Devil’s Men,” starring Milo Gibson. The deal was announced Monday.
BondIt’s co-founder and Chief Executive Helderman said, “We are thrilled to partner with the team at Accord given their international reputation, expertise and 40-year track record of delivering much-needed capital to entrepreneurs. Accord’s appreciation of the intricacies and needs of media finance will allow BondIt management to significantly increase both funding flexibility and efficiency, enhancing our competitiveness at the highest level of the marketplace.”
BondIt’s management team will continue to run the daily operations of the business with the support and capital from Accord enabling further growth as a media financing firm. The deal was structured by BondIt’s Chief Financial Officer, Patrick DePeters, along with Accord’s Senior VP Simon Hitzig.
Accord’s Chief Executive Tom Henderson said in a statement: “This investment strengthens Accord’s presence on the west coast, and is an ideal entry to the film and media sector, one of the country’s most dynamic and entrepreneurial industries. The BondIt team is deeply embedded in the media community and brings hands-on production experience to the challenge of financing in this fast-paced environment.”
“BondIt’s strategic alliance with our sister company Buffalo 8 (a production, post-production and management firm) will enable further visibility and project packaging in addition to our recent acquisition of ABS Entertainment Payroll and Accounting rounding out the one stop solution we have envisioned creating for producers and creatives across all media,” Helderman said.
Henderson added, “No other team has this unique combination of media expertise and financing savvy.”