NEW YORK--(BUSINESS WIRE)--Veronis Suhler Stevenson (VSS), a private investment firm focused on the information, education, media, marketing and business services industries, today announced that VSS Structured Capital II has made a minority investment in Cast & Crew Entertainment Services (“Cast & Crew” or “C&C” or the “Company”) in conjunction with the previously announced acquisition of the Company by ZM Capital, ZelnickMedia’s private equity fund. Terms of the transaction, which closed on December 24, 2012, were not disclosed.
Founded in 1976, C&C is one of the leading providers in the entertainment payroll industry for the motion picture, television, live entertainment and commercial markets. C&C’s comprehensive suite of services includes entertainment payroll, production accounting software, procurement and purchasing services, residual payments, labor relations, production incentives and workers compensation insurance, all supported by 24/7 client services professionals. The Company is headquartered in Burbank, California and has field operations in New York, Albuquerque, Atlanta, Baton Rouge, New Orleans, Detroit, Philadelphia and Wilmington. Canadian offices are located in Toronto and Vancouver. In addition, an office is scheduled to open in London later this year. C&C’s entire management team will continue to lead the Company.
“Cast & Crew has an exceptionally strong and forward-thinking management team, a great reputation among its customer base, and industry-leading services and software,” said Hal Greenberg, Partner, VSS Structured Capital II, LLC. “We welcomed the opportunity to partner with ZM Capital, Eric Belcher and his team to seek to accelerate organic growth. Furthermore, the investment in Cast & Crew is an excellent example of VSS’s commitment to investing in the business services sector.”
“We are thrilled to have partners who will continue to champion our aggressive investments in technology, personnel and workflow processes with a proven track record of taking media and entertainment companies to the next level of success,” said Eric Belcher, Cast & Crew’s CEO.
VSS has extensive experience in the business services sector including such platform investments as Trover Solutions, a provider of subrogation and overpayment recoveries for insurance payors in the healthcare and property and casualty industries; SourceMedical, a provider of outpatient information solutions and revenue cycle management services for ambulatory surgery centers, specialty hospitals, and rehabilitation clinics nationwide; Tax Credit Co., a national provider of tax incentive consulting, administration and technology; SHL, a provider of cloud-based talent measurement and management solutions; Avatar International, a provider of intelligent and customizable survey-based products for the healthcare industry; Executive Health Resources of expert medical management services to improve hospital compliance and achieve revenue integrity; and Ebiquity, a business information services company providing global advertising monitoring and press monitoring services.
About Cast & Crew Entertainment Services
Cast & Crew is a leading provider of technology-enabled payroll and related business process outsourcing (BPO) services to the film, television, live entertainment and commercial production markets in North America. Production companies use the Company’s solutions to manage payroll processing and related regulatory filings; production accounting software; workers’ compensation insurance coverage and claims administration; residuals processing; procurement and purchasing services; labor relations; and production incentives guidance and reporting. Cast & Crew is headquartered in Burbank, California and has field operations in New York, Albuquerque, Atlanta, Baton Rouge, New Orleans, Detroit, Philadelphia and Wilmington. Canadian offices are located in Toronto and Vancouver. http://www.castandcrew.com
About Veronis Suhler Stevenson
Veronis Suhler Stevenson is a private equity and debt capital fund management company dedicated to investing in the information, education, media, marketing and business services industries in North America and Europe. VSS provides capital for buyouts, recapitalizations, growth financings and strategic acquisitions to companies and management teams with a goal to build companies both organically and through a focused add-on acquisition program. Since the closing of the first VSS buyout fund in 1987, VSS has managed four buyout funds and two structured capital funds with aggregate committed capital in excess of $3.1 billion. The six funds have to date invested approximately $2.7 billion in 71 portfolio companies which have in turn completed over 320 add-on acquisitions. The company’s website is www.vss.com.