VFX Group Cinesite Unveils New $235 Million Financing Package To Fuel Ongoing Expansion
deadline.comFast growing, London-based VFX and animation studio group Cinesite said today it’s clinched a $235 million funding package as it continues to expand.
The firm’s longtime bankers NatWest Securities and Barclay’s led the financing — a package of transactions that includes, debt, equity and mezzanine lines from existing shareholders.
Cinesite will use the fresh funds “to accelerate its growth by offering clients greater creative capacity, allowing the company to enter new geographies and business segments while building on its studio partnership model to expand its talent base & global footprint.” Outside of London, Cinesite has facilities in Montreal and Vancouver and alongside partner studios in Berlin, Munich (Trixter), Belgrade, Skopje (FX3X), Montreal (Squeeze Animation & L’Atelier Animation), Quebec City (Squeeze), Mumbai (Assemblage Entertainment) and Vancouver (Image Engine), enabling it to scale to thousands of VFX & animation artists worldwide.
The deal with Assemblage was announced last month, marking Cinesite’s first foray into Asia. It announced the deals with Squeeze (the animation house behind the Marvel series What If…?), Balkans-based visual effects studio FX3X and L’Atelier Animation last summer.
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