Updates

British VFX Company Cinesite Secures $70 Million Finance Package

British VFX company Cinesite has secured $70 million in financing. The London-based outfit, which has studios in Montreal and Vancouver, has secured $40 million of funding from asset management firm Pemberton as well as the ability to access up to another $30 million.

Cinesite works across film and TV and has created VFX for “Game of Thrones” (pictured), “Skyfall,” and “Fantastic Beasts & Where to Find Them,” among others. It also moved into animation production in 2016 and has since made a trio of animated features: “The Star” with Sony Pictures Animation, and “Gnome Alone” and “Charming” with 3QU Media. It is working on two more animated films, “Riverdance” and “Harold Lloyd & Imaginary Friend.”

The company said the new financial arrangements will allow it to “facilitate new partnerships and collaborations with leading studios and filmmakers.” 

Cinesite CEO Antony Hunt said: “We are delighted to be entering this partnership with Pemberton, which has significant experience of financing growth businesses. In partnering with us, it has invested in the talented staff we nurture, our ambition to grow steadily and our vision for the future.”

“Cinesite has rightfully earned a reputation as a studio with strong creative and technical capabilities,” added Eric Capp, head of U.K. origination at Pemberton. “The Cinesite management team has successfully leveraged the company’s capabilities to deliver sustained, impressive growth.”

 

By: Stewart Clarke

Source: Variety 

News Menu