Cast & Crew Entertainment Services has acquired a production payroll and accounting services firm for commercial production, venues, music tours and other entertainment niches.
The Burbank company will finance the purchase of CAPS Payroll, in Culver City, through additional equity from its owner, Silver Lake, in New York. Terms of the transaction were not disclosed.
Cast & Crew Chief Executive Eric Belcher said that his company and CAPS were an ideal fit due to complementary client bases, compatible technology portfolios and consistent corporate cultures.
“This combination will offer clients the industry’s best suite of technology-enabled solutions and expand support, training and career opportunities for employees of both companies,” Belcher said in a prepared statement.
Cast & Crew provides payroll and accounting and other financial services to major and independent film and television studios and live event venues. Silver Lake acquired the company last year.
CAPS Payroll, founded in 1991, provides similar services for film and TV studios, commercial production companies, as well as venues, music tours, live events, unscripted television and independent film. It had been owned by Uni-World Capital, a New York private equity firm.
“We are delighted to join an organization with exceptional relationships and expertise in the entertainment industry, a deep commitment to customer service and a clear vision of where the market is going,” said CAPS Chief Executive Doug Sylvester in a prepared statement.