The Foundry in MBO
Article Date: Jun 03 2009The Foundry, a London-based visual effects software developer, has been sold in a management buy-out led by CEO Dr Bill Collis and the original founders and backed by Advent Venture Partners. The terms of the deal were not disclosed.
The company develops software for the film industry, and specialises in visual effects compositing, which is the layering and manipulating of many image sequences to create a final shot. The company has more than doubled revenues in the last eighteen months to some $10 million (£6 million).
Bill Collis, CEO of The Foundry says, ‘With the backing of our previous investors, we enjoyed substantial growth and are now in a strong position to take the business forward with our new partners, Advent.’
The Foundry’s products have facilitated effects sequences in numerous major Hollywood blockbusters including The Dark Knight and The Curious Case of Benjamin Button. Mike Chalfen, general partner at Advent Venture Partners, called the company ‘a true European digital technology success story’.
