Harris Williams & Co. Advises Double Negative on its Pending Merger with Prime Focus World
LONDON--(BUSINESS WIRE)--Harris Williams & Co., a preeminent middle market investment bank focused on the advisory needs of clients worldwide, is pleased to announce the pending merger of Double Negative (DNeg), one of the largest visual effects services providers to the global film industry, with Prime Focus World, the creative services subsidiary of Indian-listed global media and entertainment services leader Prime Focus Limited. The combined entity will form one of the world’s largest independent creative services providers. The pending transaction, signed on June 25, 2014, is subject to customary closing conditions and expected to close in July. The transaction is being led by Thierry Monjauze and Zach Mueller of Harris Williams & Co.’s London office.
“There are clear synergies for the merger and the combined operation will provide global scale and greater creative flexibility for customers. Harris Williams & Co. is proud to have partnered with Double Negative and we look forward to the continued success of the business”
“Double Negative’s culture of creative excellence and innovation has led to its position as one of the largest and most successful independent providers of visual effects to the film industry,” said Thierry Monjauze, managing director in Harris Williams & Co.’s Technology, Media & Telecom (TMT) Group and head of the firm’s London office. “There are clear synergies for the merger and the combined operation will provide global scale and greater creative flexibility for customers. Harris Williams & Co. is proud to have partnered with Double Negative and we look forward to the continued success of the business,” added Monjauze.
Founded in 1998, DNeg has grown to become one of the industry's success stories and is now Europe's largest independent provider of visual effects for the film industry (operating from locations in both London and Singapore). Through steady and constant growth, the Company has always sought to retain both the creative drive and involvement of its artists through all projects and a close collaborative working relationship with clients. This approach ensures films both small and large receive the same high standard of creative and technical service. This has proved a winning combination resulting in awards recognition from the Visual Effects Society (for Inception and Sherlock Holmes), BAFTA (for Inception and Harry Potter and the Deathly Hallows Part 2) and the Academy® Awards (for Inception).
“We have ambitious plans to build on what we’ve achieved in VFX over the last 15 years,” said Double Negative’s management team of Matthew Holben (CEO) and Alex Hope (Managing Director). “This deal allows Double Negative to develop into a truly global operation that provides great work for our clients and great opportunities for our staff.”
Prime Focus World (PFW), a subsidiary of Prime Focus Limited, provides visual effects, 2D to 3D conversion and animation services to major media and entertainment companies. PFW has brought its expertise to many wide release Hollywood films including Transformers: Age of Extinction, Gravity, Maleficent, Edge of Tomorrow, Noah, White House Down, The Wizard of Oz, The Great Gatsby, World War Z, Men in Black 3, Star Wars: Episode I, II & III, Dredd 3D, Total Recall, Harry Potter and the Deathly Hallows: Part 2, Transformers: Dark of the Moon and Avatar. PFW has global operations with a presence in key centers of creative content production – Los Angeles, Vancouver, London, Beijing and Mumbai.
Harris Williams & Co. (www.harriswilliams.com), a member of The PNC Financial Services Group, Inc. (NYSE:PNC), is a preeminent middle market investment bank focused on the advisory needs of clients worldwide. The firm has deep industry knowledge, global transaction expertise and an unwavering commitment to excellence. Harris Williams & Co. provides sell-side and acquisition advisory, restructuring advisory, board advisory, private placements and capital markets advisory services.
Harris Williams & Co.’s TMT Group has experience across a broad range of sectors, including software, internet and digital media and infrastructure solutions. Within these segments, the TMT Group focuses on targeted subsectors including application software, data and informatics, eCommerce, education technology, energy technology, financial technology, healthcare IT, infrastructure software, IT and tech-enabled services, mobile, online advertising and marketing services, public sector software and telecom, data center and networking solutions. For more information on the firm’s TMT Group and other recent transactions, visit the TMT Group’s section of the Harris Williams & Co. website.
Investment banking services are provided by Harris Williams LLC, a registered broker-dealer and member of FINRA and SIPC, and Harris Williams & Co. Ltd, which is authorised and regulated by the Financial Conduct Authority. Harris Williams & Co. is a trade name under which Harris Williams LLC and Harris Williams & Co. Ltd conduct business.
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