Fri, 10 May 2013 | MBO/MBI
Procam TV, a broadcast equipment hire firm that has seen fast growth in the last four years, has been purchased in a management buyout deal.
Private equity firm Foresight Group backed the move and injected £1.8 million in to the business to take a minority stake.
Procam TV’s camera equipment and crew are used by some of the largest broadcasters and production firms in Britain. Its clients include BSkyB, and it is also an approved supplier for the BBC and ITV.
The business, which is based in Battersea, London, with operations in Manchester, has been instrumental in the making of programmes such as Derren Brown, The Voice, Made in Chelsea, Splash, The Great British Sewing Bee and The Great British Bake Off amongst others.
Former Carlton Television chief executive Clive Jones is to be made Procam TV’s chairman following the deal.
Sales at Procam TV increased after the introduction of new camera formats. The management team now aims to step up the expansion of the business and offer new facilities and services.
John Brennan, managing director of Procam TV, commented on the deal: “In Foresight we have found a superb partner that shares our passion for TV and our ambition to grow into new sectors and geographies.
“There is currently enormous demand for quality content from traditional broadcasters as well as from new online media players. Our business is thriving as we help production companies fulfil that demand cost-effectively.”
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