Cinesite Studios has completed a long-term financial plan with diversified asset manager Pemberton, which will provide an initial funding chunk of $40 million to cover the group’s capital requirements, including some acquisitions finance. Barclays Corporate Banking will supply $4M of revolving facilities. The overall agreement has a further $26M fundraising capacity built in.
“We are delighted to be entering this partnership with Pemberton, which has significant experience of financing growth businesses,” commented Cinesite Chief Executive Antony Hunt. “In partnering with us, it has invested in the talented staff we nurture, our ambition to grow steadily and our vision for the future. We’re looking forward to working with its team.”
Cinesite Studios is an independent digital entertainment company which provides award-winning animation and visual effects for the feature film and television industries. Headquartered in London, the studio has facilities in Montreal and Vancouver, giving it the capacity to accommodate up to 1,350 employees. The group has achieved a 40% year-on-year revenue growth since 2014, while significant awards of work have enabled the management team to invest in new facilities, technology and, most importantly, talent. The arrangements just announced will facilitate new partnerships and collaborations with top studio and filmmakers to develop original projects for a global audience.
“Cinesite has rightfully earned a reputation as a studio with strong creative and technical capabilities. The Cinesite management team has successfully leveraged the company’s capabilities to deliver sustained, impressive growth. Pemberton’s platform was purposefully built to provide tailored finance to high-quality, high-growth European companies like Cinesite,” said Eric Capp, Head of UK Origination at Pemberton. Pemberton is backed by Legal & General Group PLC, one of Europe’s largest insurers.
Cinesite has recently wrapped production on animated features The Star (Sony Pictures Animation), Gnome Alone and Charming (3QU Media). The Addams Family (MGM) is currently in production in Vancouver. The Montreal team continues work on the 3QU slate and other feature toons in development, including Riverdance, Harold Lloyd & Imaginary Friend, and more to be announced.
The studio’s standout VFX work includes the dragon vs. loot train battle in Game of Thrones season 7, Harry’s face-off with Voldemort in The Deathly Hallows, Pt. 2 and James Bond’s Komodo dragon encounter in Skyfall. Across the group, recent credits include Logan, Thor, Fantastic Beasts and Where to Find Them, Assassin’s Creed and The Commute — featuring 860+ shots by Cinesite, in theaters now.
Learn more about the studio at www.cinesite.com.