Private equity firm H.I.G. Capital announced today the acquisition of PostWorks and its subsidiary Orbit Digital Inc. as an addition to its Telecorps Holdings family of companies, which includes Wexler Video and Coffey Sound. PostWorks is a prominent East Coast postproduction finishing services provider, while Orbit Digital, with offices in both New York City and Los Angeles, is a worldwide provider of edit systems and on-site preview services. Both companies service feature film, broadcast network and cable clients.
“We formed Telecorps Holdings with the purchase of Wexler Video. Our intent has always been to add strong companies to that platform, creating a comprehensive suite of services for customers from coast to coast. With the addition of PostWorks/Orbit Digital, we are well positioned to reach that goal. We believe this platform has tremendous growth opportunities,” says Elliot Maluth, managing director of H.I.G. Capital’s San Francisco office.
David Rosen, CEO of PostWorks/Orbit Digital, adds, “We have worked towards creating this kind of synergy for a long time. Customers are searching for the highest quality solutions with the fewest points of contact. They want a provider who can facilitate all aspects of the acquisition, editing and finishing of content. The aggregation of these companies provides that answer.”
PostWorks and Orbit Digital have collaborated with filmmakers on numerous Emmy Award-winning television series and Academy Award-winning feature films on lab, edit system, picture and sound finishing services. Recent titles include NBC’s 30 Rock, HBO’s In Treatment, Showtime’s Nurse Jackie, ESPN’s World Series of Poker, Universal Pictures’ Green Zone and 20th Century Fox’s The Chronicles of Narnia: The Voyage of The Dawn Treader.
Rob DeMartin, chief operating officer at PostWorks/Orbit, comments, “The relationship with these respected brands is the beginning of a nationwide consolidation of superior providers in various segments of television and film production. We are sincerely proud to be an early partner in this effort.”
Wexler president and CEO Chris Thompson adds, “For years, our customers have been asking us to have a permanent presence in NYC and to support them in the scripted editorial space. We realized there was only one answer to those questions: PostWorks/Orbit Digital. Now we have a tremendous partner, not only well respected for their expertise, but very customer-centric and innovative. We couldn’t be happier.”