Clearlake Capital Group LP on Tuesday said that it sponsored and led the acquisition and recapitalization of Burbank-based 3-D film technology company 3ality Digital.
The Santa Monica private equity firm did not disclose financial terms of the deal, which included participation by 3ality’s founders. The company provides digital stereoscopic 3-D production hardware and software to the motion picture and broadcast industries. Last month it was chosen to supply the production of “The Amazing Spider-Man,” the fourth in the Columbia Pictures franchise, with 3-D cameras and equipment.
“3ality’s solutions enable the wider proliferation of 3-D content through new, automated technologies that significantly reduce the cost of producing 3-D content,” Behdad Eghbali, a founding partner at Clearlake, said in a statement. Clearlake said its investment was made from Clearlake Capital Partners II, a $415 million fund that closed in January 2010.
Clearlake, the Modell family and management will control the company. Steve Schklair, another company co-founder, will continue to serve as 3ality’s chief executive.
“As an early investor in 3ality Digital, the Modell family is thrilled to be joined by outstanding new partners,” Chairman David Modell said in a statement. “Clearlake Capital has made a large commitment that is a strong validation of our strategy and our position as a 3-D technology development leader at the top of this exploding market.”
For reprint and licensing requests for this article, CLICK HERE.
Stories You May Also Be Interested In
- Clearlake Capital Makes Tech Buy
- 3D Production Equipment Makers to Combine
- Automated Camera Angles Give 3-D Company an Edge
- Looking Sharper
- Regional Reports
- 3-D Equipment Company Puts Focus on Production
- Silicon Beach Report March 16: Pray.com Raises $14 Million
- Deals & Dealmakers: Clearlake’s Cash Haul