Foresight portfolio company Procam, the UK’s largest cinematography and broadcast hire company, has completed its fourth acquisition since Foresight Group supported the MBO of Procam three years ago.
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The strategic acquisition of Take 2’s camera division, with film credits including global success stories The King’s Speech, The Imitation Game, Paddington and Pride and TV credits including Wolf Hall, Grantchester and Undercover amongst others, is part of an ambitious expansion plan that in recent years has seen Procam’s rapid growth through acquisitions of HotCam in New York, True Lens Services and Hammerhead TV.
Since Foresight supported the management team in the MBO of Procam TV in May 2013, alongside NatWest, revenues at the company have grown more than three fold. This further acquisition was delivered with further support from NatWest.
James Livingston, Partner of Foresight said: "This strategic acquisition opens adjacent markets for Procam and provides the Group’s customers a broader range of expertise and capabilities. The transaction further strengthens Procam’s market position. We look forward to working with management to integrate the acquisition.”
Chris Rees, Director of NatWest Structured Finance said: "We are delighted and proud to have supported Procam and its management team on another acquisition as part of its overall strategy to provide media businesses with the widest range of high quality cameras, lenses and production equipment in the rental market. "
For more information contact:
Ben Thompson, firstname.lastname@example.org 020 3667 8155
Notes to Editors
Procam is the UK’s largest cinematography and broadcast hire facility. For over 25 years, Procam has been supplying production equipment to industry professionals throughout the United Kingdom and internationally. With offices in London, Manchester, Edinburgh and Glasgow, Procam’s services include kit and crew rental, project management, workflow consultancy and 24/7 technical support. Last year Procam expanded internationally in the US with Procam NY, through its acquisition of Hotcam NY.
About Foresight Group
Foresight Group is a leading infrastructure and private equity investment manager which has been managing investment funds on behalf of institutions and retail clients for over 30 years.
Foresight has £1.8 billion of assets under management across a number of funds, including Listed Vehicles, Limited Partnerships, Enterprise Investment Schemes (EISs) and Venture Capital Trusts (VCTs).
Foresight’s Private Equity team, comprising eleven investment professionals, manages a portfolio of more than 35 companies, typically investing up to £5m equity in UK SMEs.