The Cinesite group, one of the world’s largest independent visual effects and animation studio collectives, announced a series of transactions which will result in a new long-term funding package of US$215 million to support its continued operations, technological innovation and strategic expansion. Cinesite asserts this significant financial commitment underscores the company’s ambitions and confidence in the entertainment sector.
The funding package empowers Cinesite to overcome the challenges posed by recent industry disruption that has affected the entire sector. The industry will now be considering how best to work with its supply chain to identify, develop, test and validate solutions that deliver more sustainable and robust collaboration between vendors, studios and filmmakers. Simultaneously, the Cinesite group will continue to expand its production capabilities across animation, visual effects, immersive content and motion capture, while leveraging cutting-edge technologies and exploring the potential of generative AI.
This announcement comes at a pivotal time for the entertainment industry, which has faced numerous challenges in recent years, including the L.A. wildfires as well as the impact of the Hollywood strikes. The Cinesite group retained as many of its highly skilled artists and technical talent as possible, ensuring its studio network was ready to seamlessly resume production as soon as the strikes concluded. This commitment to talent, while impacting the company’s short-term financials, was crucial to maintaining quality and skilled expertise, allowing the company to continue servicing client projects without further disruption.
Cinesite will capitalize on the growing demand for high-quality entertainment content worldwide while considering strategic acquisitions and partnerships to achieve its medium- and longer-term objectives.
“We have served this industry for over 30 years and in that time we have seen many changes; our longevity comes in part from our ability to adapt. In the next phase of our business you can expect to see us taking advantage of opportunities thrown up by the disruption of the past couple of years,” said Cinesite Group CEO Antony Hunt. “Thanks to the renewed commitment of our banks, shareholders and other stakeholders and the ongoing confidence our clients place in our services, we will continue to produce exceptional work for audiences, while fueling innovation and studio growth.”
NatWest Corporate Bank led the financing alongside the studio’s long-standing relationship banks Barclays and Santander. Its shareholders, including family office Gryphion, supported the overall package of senior and junior debt and equity lines.
“This funding package underscores the conviction of Cinesite’s shareholders and banks in the industry’s recovery and the continued demand for high-quality visual narratives,” said William Ford, Chief Investment Officer at Gryphion. “Cinesite’s strategic market position and growth potential, combined with its ability to consistently produce top-tier entertainment during unprecedented times, made renewing our support a straightforward choice. We are confident in Cinesite’s leadership and their ability to thrive as the broader industry restores its equilibrium.”
The Cinesite Group has contributed to a wide range of notable projects during its 32-plus year history. Its VFX work spans blockbuster films like the Marvel Cinematic Universe, James Bond, and Harry Potter franchises, as well as acclaimed television series The Witcher, The Mandalorian and Band of Brothers. In animation, the studio has delivered films including Teenage Mutant Ninja Turtles: Mutant Mayhem and The Addams Family films.
Cinesite’s upcoming projects include Warfare, Michael, G2O and a new Smurfs film. The studio has moved into animated series with productions like Iwájú for Disney+, gaming cinematics such as Invincible: Guarding the Globe for Ubisoft as well as pioneering immersive content for clients such as the multi-sensory experience Frameless and The National Portrait Gallery.
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