London, UK – 16 September 2020: Inspirit Capital is pleased to announce that it has invested in Europe’s largest digital cinematography and hire facility, Procam Group (www.procam.tv).
With offices in both the UK and US, Procam has been supplying production equipment to industry professionals throughout the UK and internationally for more than 30 years. The transaction also includes the group’s wider operations of Take 2 Films (www.take2films.co.uk), Procam New York (www.procamny.com), and Procam Projects (www.procamprojects.com).
Inspirit’s investment will enable the company to accelerate its growth plans and realign focus on its core business offering of digital cinema and film equipment rental. Procam supports productions across a multitude of genres, including music, live events and streaming to commercials, feature films, drama, reality, fixed rig, and factual television.
Under the terms of the deal, Group CEO John Brennan will continue to drive the business through the execution of its market winning strategy of great customer service, investment in equipment, and profitable growth of the business.
John Brennan, CEO, Procam Group said, “We are excited to work with Inspirit, who share and support our ambitions for the next chapter of the Procam Group. As far as our customers and employees are concerned, nothing changes. We will continue to deliver the best possible service and support for productions across the UK and in the US.
Covid-19 has had a negative effect on our industry and has provided us with unexpected challenges, but it has been promising to see so many productions adapt to new ways of working safely after a period of great uncertainty. With the rise of streaming services alongside traditional film and television viewing there is a lot of demand for new and exciting content, creating fantastic opportunities for our industry on the other side of the pandemic. We are grateful that we have managed to weather the storm and continue business as usual, and we look forward to more prosperous times ahead working alongside Inspirit Capital.”
Albert Farrant, Partner, Inspirit Capital said, “Inspirit is delighted to be investing in Procam, which is positioned for strong growth given the backlog in content production following the national lockdown and increasing consumer demand for high-quality original television and movie productions”.
Inspirit was advised on the transaction by K&L Gates.