AID Partners Capital makes an equity investment that values Prime Focus World
at USD 250 million
LOS ANGELES, March 20, 2013
LOS ANGELES, March 20, 2013 /PRNewswire/ --AID Partners Capital Limited ("AID
Partners"); a private equity firm focused on expansion capital and buyout
opportunities primarily in the media and entertainment sector; has made an
investment that values Prime Focus World, NV ("PFW"); the creative services
business of Prime Focus Limited ("Prime Focus", BSE code: 532748); at USD 250
million. The Hong Kong based private equity firm has made an equity investment
of USD 10 million in PFW.
"We have accomplished a great deal in the five years since we founded PFW.
We've broken into Hollywood, built direct relationships with major studios,
consistently delivered superior work all while generating a revenue growth
with a CAGR of over 68%. Today it is heartening to see a discerning investor
like AID Partners find such worth in our company." said Namit Malhotra,
Founder, Prime Focus and Chairman & CEO, Prime Focus World N.V.
The investment further validates strong investor interest in Prime Focus and
the huge potential that exists in unlocking value in its subsidiaries. In
December 2012, Standard Chartered Private Equity invested USD 70 million in
Prime Focus Limited.
"From the initial investment of $43 million in 2008, the business has grown
five-fold. This is indeed great news for our shareholders as we fuel our next
wave of growth." added Namit Malhotra.
Coupled with AID's recent acquisition of a 100% stake in HMV Asia and its
investment in Legendary Pictures (Hollywood's leading media company behind
such films as Christopher Nolan's Batman franchise) the PFW investment further
underscores AID Partners' in-depth knowledge of and commitment to the growth
of the entertainment industry in Asia.
"3D and VFX are now key elements of big budget films. With the increasing
budgets of China's tentpole movies, there is a tremendous demand for
world-class 3D and VFX services in China." said Kelvin Wu, Principal Partner
at AID Partners.
According to the Chinese State Administration of Radio, Film and Television,
China's 2012 box office receipts increased 30%; in majority part due to
imported films; ranking China as the world's second-largest box office next to
the US (surpassing Japan). PCR is also the largest 3D market outside of the
United States, encouraging the government to relax import restrictions that
now allow an additional 14 foreign films to be distributed in China provided
they are in 3D or large format.
"With China's rapid economic growth and the population's desire to enjoy an
increasingly better lifestyle, we look forward to working together with Prime
Focus to improve the quality of film content produced for the Greater China
region and to enable further growth in the entertainment industry." concluded
About Prime Focus Limited
Prime Focus Limited, PFW's parent company, is a global leader in media and
entertainment industry services, employing over 4,500 professionals in 19
facilities across 3 continents and 4 time zones. We provide end-to-end
creative and technical services including visual effects, stereo 3D
conversion, and animation through our subsidiary PFW, as well as video/audio
post-production, Digital Intermediate, equipment rental, digital content
management and distribution, versioning and adaptation to the Film, Broadcast,
Advertising and Media industries. Leveraging our Global Digital Pipeline and
pioneering delivery model we partner content creators at every stage of the
process ensuring work flow efficiencies, cost optimization and creative
enablement. Listed on the BSE and NSE of India, Prime Focus has operations in
Los Angeles, New York, Vancouver, London and Mumbai.
About Prime Focus World N.V.
Prime Focus World ("PFW"), a subsidiary of Prime Focus Limited, provides 2D to
3D conversion, visual effects and animation services for major media and
entertainment companies. PFW has brought its expertise to many wide release
Hollywood films, including the upcoming films The Great Gatsby and White House
Down as well as previously released Men in Black 3, Star Wars: Episode One –
The Phantom Menace, Dredd 3D, Total Recall, Tim Burton's Frankenweenie, Harry
Potter and the Deathly Hallows: Part 2, Narnia: The Voyage of the Dawn
Treader, Resident Evil: Retribution, Green Lantern, Immortals, Wrath of the
Titans, Mirror Mirror, Transformers: Dark of the Moon and Avatar. Prime Focus
World has global operations with a presence in key centers of creative content
production – Los Angeles, New York, London, Vancouver and Mumbai.
About AID Partners
AID Partners, founded in 2007 by Kelvin Wu and Joel Chang, is a private equity
fund present in Hong Kong, Shenzhen, Paris, Cologne, Los Angeles and Tokyo.
AID Partners invests in buyout opportunities and expansion capital primarily
in media and entertainment, retail, and consumer sectors. It is an expert in
bridging international business with the Chinese market.
The high profile and award winning investments of AID Partners include Orange
Sky Golden Harvest Entertainment (one of the largest movie theatre operators
in Asia),Asian Citrus (the largest private fruit plantation and juice
concentrate supplier in China), and Legendary Entertainment (one of the
leading Hollywood film producing and financing companies which co-produced the
Batman trilogy, Superman, Inception and The Hangover sequels with Warner
Brothers) as well as the newly closed HMV Asia.
In addition to financing, AID Partners adopts a hands-on approach and works
closely with the companies in which it invests. The current investor base of
AID Partners includes institutional and high net worth professional investors
in the United States, the United Kingdom, Hong Kong and the PRC.
For more information, please visit http://www.primefocusworld.com/
For more information, please visit www.aidpartners.com.
SOURCE Prime Focus World
Contact: firstname.lastname@example.org, +1-323-461-7887
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