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ZM Capital Agrees to Sell Cast & Crew to Silver Lake

NEW YORK, June 29, 2015 /PRNewswire/ -- On June 29, 2015, Cast & Crew Entertainment Services ("Cast & Crew"), a portfolio company of ZM Capital ("ZMC") announced that it has signed a definitive agreement pursuant to which Silver Lake will acquire the Company. Terms of the transaction were not disclosed and the transaction is subject to customary closing conditions.

Cast & Crew is the premier provider of technology-enabled payroll, production accounting and related value-added services to the entertainment industry. The 2012 acquisition of Cast & Crew by a consortium led by ZMC, including VSS, Emigrant Capital Corp. and other ZMC limited partners and affiliates, was the result of a targeted search led by ZMC principals for businesses that would benefit from the growing demand for original programming across increasingly fragmented media outlets.

Cast & Crew offers technology-enabled payroll services to a large and growing base of clients across the entertainment industry, including major and independent film and television studios, as well as live event venues. A trusted participant in the entertainment industry ecosystem for nearly four decades, Cast & Crew has built a preeminent market position through an unwavering focus on client service and a differentiated suite of solutions. These solutions help the world's leading content creators manage the complexities of entertainment payroll processing; residuals processing; tax incentives and financial services; Affordable Care Act challenges, and production accounting.

ZMC's investment thesis was focused on the explosive growth in production volume driven by accelerating demand from broadcast, cable and over-the-top networks for original programming to attract consumers in an increasingly fragmented media landscape. The Company achieved significant growth in two and a half years under ZMC's ownership. To achieve this growth, ZMC partnered with the management team to develop core strategies that resulted in gaining a greater share of spend with existing clients, winning new clients, launching in new geographies, developing and launching new products (such as Cast & Crew Financial Services and Cast & Crew Open Health) and implementing operational and process reengineering initiatives to gain cost efficiencies and further enhance customer satisfaction metrics. ZMC also invested heavily in Cast & Crew's already industry leading technology platform. "We take great satisfaction in Cast & Crew's dynamic growth in recent years, driven by an outstanding management team and a talented group of employees. We feel fortunate that we had the opportunity to work with the Company during this phase of its growth and remain excited about Cast & Crew's future prospects," said ZMC Partner Jordan Turkewitz.

Cast & Crew was advised in this transaction by Moelis & Company LLC, Morgan Stanley & Co. LLC and Sidley Austin LLP.

About ZMC

ZMC is a leading private equity firm comprised of operating executives and investment professionals that invests exclusively in the media, entertainment and communications industries. Central to ZMC's investment approach is a focus on operational value creation, driven by targeted investment themes and deep partnerships with our operating partners and management teams. The firm is currently investing out of ZM Capital II and has interests in interactive entertainment, mobile communications software and services, content production and distribution, digital media, broadcast advertising and entertainment services. For more information about ZMC, please visit www.zelnickmedia.com.

Contact Information

ZMC
Sheila Dharmarajan
sheila@zelnickmedia.com
+1 212-944-2063

SOURCE ZM Capital

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