Audax Group announced it has completed the acquisition of Cinelease, Inc. ("Cinelease"). Headquartered in Burbank, California, Cinelease rents motion-picture lighting and grip equipment to the television, feature film, commercial, music video, and event industries. The company is a leading supplier to entertainment and commercial productions, with a reputation for carrying a broad selection of well-maintained equipment with superior customer service and dependability.
Geoffrey S. Rehnert, Co-CEO of Audax Group, said "Cinelease has strong brand recognition in a segment of the entertainment industry where customer service and dependability is critical. We look forward to working with the management team at Cinelease to drive organic growth by penetrating new and existing markets and channels."
Steve Ortiz, President of Cinelease, said "We are excited to be working with Audax Group. Their experience working with equipment rental companies will be valuable as we expand our business."
Joe Ball, Executive Vice President, Motion Pictures, said "This transaction is a positive outcome for our customers and employees. Audax will help us grow our business as we continue to provide the highest quality of equipment and service to our customers."
Kirkland & Ellis LLP advised Audax Group. Goldsmith Agio Helms advised Cinelease. American Capital Strategies, Ltd. provided one-stop financing to support the transaction.
ABOUT AUDAX GROUP
Audax Group, founded in 1999, is a leading investor in middle market companies. With offices in Boston and New York, Audax manages in excess of $3.7 billion of equity, mezzanine debt, and senior loan capital. For more information visit the Audax Group website http://www.audaxgroup.com