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Cast & Crew to acquire Media Services
Posted on Friday, 14 February 2020 11:37
Cast & Crew is picking up payroll and production management company Media Services for an undisclosed amount to bring together two companies with a shared platform for digitising, automating and simplifying the experience of creating entertainment content.
The target has been focused on providing its services to the film, television, digital streaming and commercials for more than 40 years.
Media Services’ software offerings include payroll and accounting tools and its flagship Showbiz suite of products that help today’s content creators streamline a broad range of production processes.
Founded in 1978, it had offices in Los Angeles and New York and counts Netflix, HBO, Amazon Studios and Tinopolis as clients.
Cast & Crew said it received support from parent company EQT for the acquisition.
Kasper Knokgaard, a partner at the private equity firm, said: “The addition of a strong brand like Media Services will add to Cast & Crew’s solid platform and help to enhance and expand the scope of the products and services that we collectively offer to our clients.”
The acquiror provides technology-enabled payroll and human resources, accounting and financial and workflow and productivity software and services to the entertainment industry.
Its capabilities include payroll and residuals processing, workers’ compensation services, labor relations and production incentives.
Eric Belcher, chief executive of Cast & Crew, said: “As a combined company, we will continue to strive to deliver best-in-class products and services to our clients, and believe that existing clients of both companies will benefit from the combined experience, products, and services that each company has honed over the past several decades.”
According to Zephyr, the M&A database published by Bureau van Dijk, there were 17 deals targeting payroll service providers announced worldwide in 2019.
In the largest of these, Smart Packages agreed to sell a 24.8 stake in Smartgroup Corporation to investors for AUD 368.47 million (USD 247.77 million).
Accel-KKR Company is acquiring PAI Group for USD 94.40 million in the second-biggest deal.
Other targets included Zayzoon, Minu Servicios, Xendoo and One Source Payroll.
© Zephus Ltd