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YFM backs investment into EIKON

 

Funds advised and managed by YFM Equity Partners, the specialist private equity fund manager, have backed an investment into Eikon, an end-to-end, digital post-production services for the motion picture and broadcast industry.

The YFM investment comes from its two advised VCTs, British Smaller Companies VCT and British Smaller Companies VCT2, and the YFM Equity Partners 2015 Co-Investment.

EIKON was founded in 2014 by Peter Wright (CEO), Richard Fish (Commercial Director), Rick Corne (Innovations Director), Jon Gardner (Operations Director) and Russell Wetherell (Creative Director).

EIKON has cutting edge technology facilities in Soho, London and Burbank, Los Angeles, offering digital mastering and localisation to the film, broadcast and online media industry. Clients include Paramount Pictures, Twentieth Century Fox, Sony Pictures Entertainment, Warner Bros, Universal Pictures, CBS and Netflix.

Now in their fifth year, EIKON have doubled revenues year on year and have grown from a staff of six to 100. EIKON has developed world leading systems and workflows across multiple entertainment service lines in the entertainment industry. It oversees the mastering and localisation of major studios worldwide feature film releases to cinema, trailer campaigns and original content releases in other media for worldwide audiences.

Recent EIKON work includes the worldwide localisation and mastering for titles “Peter Rabbit”, “Greatest Showman”, “Shape of Water”, “Three Billboards Outside Ebbing, Missouri”, “A Quiet Place”, ‘Red Sparrow”.

YFM’s funds will be used to support the expansion into the US where a new state of the art studio will be built in Burbank, Los Angeles as well as continued investment in the development of technology to enhance the service delivery to customers.

YFM Partner Colin Granger led the investment and will join the EIKON Board at completion.

Granger said: “We are delighted to be working with EIKON and the management team to support the future expansion into the US and the continued investment in underlying software development. Management have done a fantastic job in growing the business to where it is today and we look forward to supporting them in the next chapter of growth.

“Market drivers in the technology enabled media sector continue to be exceptionally strong with increasing levels of content being produced and content producers targeting more global audiences, two trends which we believe EIKON will benefit significantly from.”

Co-Founder and CEO of EIKON Peter Wright added: “We are very excited about the future and growing the business alongside YFM. Their history of helping businesses grow to the next level attracted us to them as well as their straightforward approach.”

YFM’s legal advice was provided by Simon Jones of Osborne Clarke, Commercial Due Diligence by Geoff Rampton of RPL and Financial Due Diligence by Rebecca Guerin and Maya Panova of RSM.

Dane Phillips (NOR Capital) and Andy Coghlan and Daniel Jonas (both WK Corporate Finance) acted as financial advisers to EIKON with support from Robert Taylor at 360 Law Services. AIB (John Tobin and Matthew Jennings) provided the senior debt on the transaction.

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