The VFX & Animation Group Cinesite group secures a $ 215 million financing package
CINESITE, independent visual effects and animation studio, received a $ 215 million long -term financing package to support continuous operations, technological innovation and strategic expansion.
The London-based group said the financing-a series of transactions-has long been led by Natwist bankers alongside Barclays and Santander. The shareholders, including the Gryphion Family Office, supported the total package of debt lines and start -up shares.
The company said that the financial commitment “emphasizes the company’s ambitions and confidence in the entertainment sector” and “enabling Cinesite to overcome the challenges raised by the disruption of the last industry that affected the entire sector.”
The disorder is correct. This financing comes weeks after the Giant Technicolor presented in VFX bankruptcy in the United Kingdom and France and closed its American operations, including The Mill. The leadership team and many of this creative employees joined Dream Machine FX on a new project called Arc Creative.
Cinesite said this industry, which is raised by Hollywood Strikes and La Wilfires, “will now study the best way to work with its supply chain to determine, develop, test and verify solutions that provide more sustainable and strong cooperation between sellers, studios and directors.”
The same group will continue to expand its production capabilities via animation, visual impacts, overwhelming content and movement, taking advantage of advanced technologies and exploring the capabilities of artificial intelligence.
Cinesite noticed that amid the turmoil, I kept the largest possible number of skilled artists and artistic talents. “This commitment to talent, with the influence of the company’s short -term financial statements, was very important to maintain the quality and skilled experience, which allowed the company to continue serving customer projects without further turmoil. CINESITE will benefit from the increasing demand for high -quality recreational content around the world while considering acquisition and strategic partnerships to achieve its medium and longer goals.”
“We have served this industry for more than 30 years, and at that time we have seen many changes; our longevity comes partially from our ability to adapt. Anthony Hunt, CEO of City, said,“ In the next stage of our work, you can expect us to see us from the opportunities that he has given to disrupting the past two years. ” The continuous that our customers put in our services, we will continue to produce an exceptional work for the public, while fueling innovation and studio growth. ”
Video effects and animation projects include Cinesite Marvel Cinematic Universe, James Bond and Harry Potter, TV series T.It is Witcher, Mandalian and The Brothers Brigade, Teenage Ninja Turtles: Mutile Chaos and ADDAMS family series. The upcoming projects include War, Michael, G2o The new Smurfs movie and the production of animation IWájú for Disney+ and cinematic games like Invisible: the world guard For Obsoft.