Saphir co-invests in Molinare alongside Next Wave

Next Wave Partners welcomes Saphir Capital Partners as co-investment partners in Molinare, the multi-award winning London-based post production house.

Next Wave Partners is very pleased to announce that Saphir Capital Partners (“Saphir”) has completed an investment into one its portfolio companies, Molinare TV & Film Limited.  Saphir, an international growth capital investor, will join existing shareholders Next Wave Partners, Steve Milne and Julie Parmenter and BFC Entertainment Ltd who acquired the company in June 2012.  Saphir’s investment will provide Molinare with additional firepower at a time when the post production market is presenting a number of opportunities.

Molinare, the Carnaby Street-based post production house first established as Molinare Sound Services in 1973 celebrates its 40th anniversary later this year.  Now focused on high end Factual and Drama for Broadcast as well as Feature Film, it has worked on a wide range of successful film and television projects including Tom Hoopers ‘Kings Speech’. More recently work includes smash hit series ‘The Bible’ for Lightworkers Media, ‘Call The Midwife’ for Neal Street Productions, ‘The Hour’ for Kudos and ‘MasterChef’ for Shine as well as Dustin Hoffman’s ‘Quartet’ and Working Title’s ‘I Give It a Year’. Upcoming projects include BBC Comedy’s ‘The Wrong Mans’ and Hossein Amini’s ‘The Two Faces of January’. Molinare was named Best Post Production House at the 2012 Broadcast Awards.

Jonathan Brod, Managing Partner and Dean MacKenzie, Investment Director of Next Wave Partners, commented: “We are very pleased to welcome Saphir on board. They have continued to show a strong interest in the company and look forward to further developing the business together in partnership with Steve and Julie. Molinare will further benefit from a strong and supportive institutional shareholder base”.

Steve Milne, Executive Chairman of Molinare, commented: “In its 40th year Molinare has matured gracefully and is now in great shape.  It’s been quite a journey but we love what we do. Older, wiser and with great infrastructure and powerful backers in place, the Company is now working with some of the very best creatives in the UK today and that’s exciting!”.

Julie Parmenter, Managing Director of Molinare, commented: “We are delighted that Saphir has chosen to invest in Molinare.  This is an exciting time in the company’s history with significant opportunities across the TV Drama and Film markets, especially with the support of the new TV Tax Credits, timing for this investment could not be better”. 

John Penning, Managing Director of Saphir, commented:  “We are delighted to be investing alongside Next Wave, British Film Company, Steve and Julie, in a business with a strong brand and substantial growth potential.  We are particularly pleased to be working with co-investors and entrepreneurs who share our vision on how to build a successful business for the long term.”

George Pennock and Marc Smit, Partners at Saphir, commented: “We are looking forward to working in partnership with the team and Next Wave to take advantage of Molinare’s track record and strategic position in the post production market, and to enable it to realise its considerable potential over the years ahead.”

About Next Wave Partners: Next Wave Partners is an independent UK based private equity firm focused on investing growth capital in SMEs and the lower mid-market.  Next Wave has a history of successfully backing management teams and helping to grow the value of their businesses. The firm has over £60 million funds under management and actively targets investments of between £2 million and £10 million. Further information can be found at: www.nextwavepartners.co.uk

About Saphir Capital Partners:  Saphir is an independent private equity house with offices in Luxembourg, London and Hong Kong, owned by its partners.  Saphir focuses on investing €1-10 million into growth businesses headquartered in Western Europe.  It targets companies where the management teams and key shareholders seek active, hands-on support in the development of their businesses, in addition to capital.  Further information can be found at www.saphircapitalpartners.com

 

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