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London, UK – September 16, 2020: Europe’s largest digital cinematography hire facility, Procam Group, has today announced London-based investment firm Inspirit Capital as its new investor.
Despite the impact of the global pandemic, Procam has secured investment for a transaction that involves the carve-out of Procam’s UK and US branches, Procam Projects, and Take 2 Films. Broadcast and cine lens innovators True Lens Services is not included in the transaction and will remain part of Foresight Group.
The new partnership with Inspirit will enable the company to accelerate its growth plans and realign focus on its core business offering of digital cinema and film equipment rental. The Procam Group has over three decades of experience supporting productions across a multitude of genres, including music, live events and streaming to commercials, feature films, drama, reality, fixed rig, and factual television.
Under the terms of the deal, Group CEO John Brennan will continue to drive the business through the execution of its market winning strategy of great customer service, investment in equipment, and profitable growth of the business.
John Brennan, CEO, Procam Group said, “We are excited to work with Inspirit, who share and support our ambitions for the next chapter of the Procam Group. As far as our customers and employees are concerned, nothing changes. We will continue to deliver the best possible service and support for productions across the UK and in the US.
Covid-19 has had a negative effect on our industry and has provided us with unexpected challenges, but it has been promising to see so many productions adapt to new ways of working safely after a period of great uncertainty. With the rise of streaming services alongside traditional film and television viewing there is a lot of demand for new and exciting content, creating fantastic opportunities for our industry on the other side of the pandemic. We are grateful that we have managed to weather the storm and continue business as usual, and we look forward to more prosperous times ahead working alongside Inspirit Capital.”
Albert Farrant, Partner, Inspirit Capital said, “Inspirit is delighted to be investing in Procam, which is positioned for strong growth given the backlog in content production following the national lockdown and increasing consumer demand for high-quality original television and movie productions.”
About Procam (www.procam.tv):
Procam is Europe’s largest digital cinematography and hire facility. For over 30 years, we have supplied production equipment to industry professionals throughout the United Kingdom and internationally. With offices in London, Manchester, Edinburgh, Glasgow and New York, our services include equipment and crew rental, project management, workflow consultancy and 24/7 technical support. Also part of the Procam Group are Procam NY (www.procamny.com), Procam Projects (www.procamprojects.com), and Take 2 Films (www.take2films.co.uk).
About Inspirit Capital (www.inspiritcap.com):
Inspirit is an investment firm that provides capital and expertise to drive transformation and growth in UK-headquartered businesses.