H.I.G. Capital Acquires PostWorksSecond Quarter Add-On Grows Wexler’s Premier Client Base and Creates an Unrivaled Coast-to-Coast Service Offering
MIAMI – May 20, 2009 – H.I.G. Capital announced that its portfolio company, Wexler Video, has acquired PostWorks, a leader in post-production services for television and feature film producers. PostWorks is an established brand and market share leader in the New York market.
“Combining these two great companies gives us the ability to expand our offerings, capture additional business, and serve our customers more effectively,” commented Elliot Maluth, Managing Director at H.I.G. Capital. “ The synergy from combining these businesses will facilitate the continued growth of Wexler and create significant competitive advantages. In this industry, where breadth of service plays a significant role, PostWorks’ strong New York presence perfectly complements Wexler’s existing strength in the Los Angeles marketplace. We can now provide a more comprehensive service offering and support clients more directly on both coasts.”
Chris Thomson, Wexler President and CEO added, “We are excited to partner with a such a strong, complementary business whose prominent presence in New York City is second to none. H.I.G. Capital is providing the resources we need to reach more customers and combine two tremendous and well-respected brands in our industry.”
PostWorks is one of the film and television industry’s most comprehensive digital motion picture and post-production companies, offering one complete source for every post-production requirement including film processing, telecine/scanning, non-linear editorial and picture finishing, HD mastering, Digital Intermediate workflows and film recording, as well as comprehensive film and TV sound services. For more information, please call +1-212-894-4000, or visit www.postworks.com.
About Wexler Video
Wexler Video has been a leader in production and post-production equipment rental to the broadcast and cable industries for more than 25 years. Combining cutting-edge technology with world-class engineering, Wexler creates custom workflows for a wide range of programming, including Emmy Award-winning series “Extreme Makeover: Home Edition” and “The Amazing Race.” From pioneering the wireless control room, to large-scale file based acquisition and digital asset management, Wexler is dedicated to setting the standard for innovative end-to-end solutions worldwide. For more information, please contact Jennifer Toney, Sales & Marketing Manager, at +1-818-846-9381 ext 385 or refer to the Wexler website at www.wexler.tv.
About H.I.G. Capital
H.I.G. Capital is a leading global private equity investment firm with more than $7.5 billion of equity capital under management. Based in Miami, and with offices in Atlanta, Boston, San Francisco and New York in the U.S., as well as affiliate offices in London, Hamburg and Paris in Europe, H.I.G. specializes in providing capital to small and medium-sized companies. H.I.G. invests in management-led buyouts and recapitalizations of businesses across a wide range of industries. With a team of more than 150 investment professionals, most with significant operating expertise, H.I.G. has extensive experience with financial restructurings and operational turnarounds. Since its founding, H.I.G. has invested in and managed more than 200 companies worldwide. The firm’s current portfolio includes companies with combined revenues in excess of $7 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.