Jun 30, 2015

30 Jun 2015 ZM Capital, the private equity arm of New York media firm ZelnickMedia, has sold Hollywood payroll specialist Cast & Crew to Silver Lake . Silverlake reportedly forked out $700m to buy the company according to Bloomberg, although Sliver Lake and ZM are yet to disclose a figure. The sale comes just three years since an investor group led by ZM Capital, and including VSS, Emigrant Capital and other ZMC limited partners, acquired the payroll specialist from Abry Partners. Cast & Crew offers technology-enabled payroll services to clients across the entertainment industry, including major and independent film and television studios, as well as live event venues. With the strategic investment, Silver Lake has said it plans to help accelerate the company’s technology initiatives. Silver Lake managing director Joe Osnoss said, “We admire what Cast & Crew’s excellent management team has achieved already with ZMC’s support. “Technology’s impact on the global media and entertainment sectors will create many new opportunities for Cast & Crew and its clients in the years ahead, and we look forward to helping the company achieve its next phase of growth.” Copyright © 2015 AltAssets