Close Brothers Private Equity, the UK-focused mid-market house, has acquired The Industry, a supplier to the film industry, in a management buy-out of the manufacturing and distribution divisions from VFG, the UK film services company.
Mark Perryman, the investment manager at Close Brothers running the deal, said: "The long-term forecast for The Industry's market is robust and strong. The main product, film, is quite slow value. But you don't cut back on the amount of film you use if you are trying to save money on a production. Everything else can go, sets, costumes, even the director's cost can be reduced. It has certain counter-cyclical elements."
