Entertainment finance firm BondIt Media Capital has finalized a strategic investment into ABS Entertainment Payroll & Production Accounting Services, Variety has learned exclusively.
The deal was announced Saturday at the Cannes Film Festival, where BondIt’s projects include Rob Reiner’s “Shock and Awe,” being sold by Voltage; “Finding Steve McQueen,” starring Travis Fimmel and Forest Whitaker, being sold by Ambi; and “All The Devil’s Men,” starring Milo Gibson and Sylvia Hoeks being sold by GFM.
The alliance will allow for expansion of the firms’ joint services. ABS Payroll services up to 700 entertainment productions annually within the independent film community. BondIt and ABS will join forces to offer entertainment productions a one-stop-solution from payroll through senior financing. Kris King will take over as president of the ABS Payroll division running the daily operations.
“BondIt is thrilled to join forces with ABS given the incredible track record the team has established,” said BondIt CEO and co-founder Matthew Helderman. “As producers, our team knows the value of offering a single solution for production needs and with our newly combined efforts focused on the clients needs we look forward to the next chapter for our newly joint firm.”
ABS founder and CEO Kevin King said, “We are very pleased to join forces with BondIt Media Capital. This alliance will allow our companies to deliver a true one-stop solution for filmmakers. At ABS, we have been serving the independent filmmaking community for over 30 year. With our joint efforts, we will continue to provide the quality customer service that we are known for. We are extremely proud to be associated with such a fine firm.”