Entertainment Partners has reached an agreement to be acquired by a private equity firm.
The Burbank company provides workforce management and digital back-office services to the entertainment industry, namely through its SmartStudio software suite.
The purchase is to be made by TPG Capital, the Fort Worth, Texas-based private equity platform of global alternative asset firm TPG Growth.
“Entertainment Partners is the market leader in this sector and we are excited to partner with management on their client-first vision for the company,” said TPG partner David Trujillo in a statement. “Having invested in the continued proliferation of content across various forms of media, we believe in Entertainment Partners’ strong potential for innovation and accelerated growth.”
Entertainment Partners’ management team, led by President and Chief Executive Mark Goldstein, will continue in their roles.
American Discovery Capital, based in Santa Monica, acted as exclusive financial advisor to Entertainment Partners in this transaction. Terms of the transaction, which is expected to close in the second quarter, were not disclosed.