Acquisition by Procam of HotCam New York
HMT LLP undertook due diligence for private equity backed television equipment specialist Procam Television on their acquisition of US-based camera rental company HotCam New-York.
Procam, headquartered in London with additional facilities in Manchester, Scotland and Leicester, and backed by specialist private equity firm Foresight Group, provides camera equipment and crew to many of the largest broadcasters, production companies and blue chip organisations in the UK. Notable customers include BBC, ITV and BSkyB.
HotCam New York was established in 2004 by sound mixer Trevor Hotz and partner Ali Grapes, as an off-shoot of HotCam UK. The company has a long list of high-profile US shows to its credit, including The Tonight Show Starring Jimmy Fallon, American Pickers and Teen Mom.
The acquisition of HotCam enables Procam to provide its expanding US client base with the same levels of service and expertise it is renowned for across the UK, while also supporting UK-based clients shooting in the US. Procam plans to expand HotCam New York’s offering in the US and grow US activities materially in the next 12 to 24 months.
The strategic purchase was led by Procam’s Group CEO, John Brennan and backed by private equity firm, Foresight Group.
HMT undertook financial due diligence for Procam on the acquisition.
Helen Cardrick, Group Financial Director at Procam commented:
This is the fourth deal that the team at HMT have been involved with. HMT understands the drivers of our business and adds value by flagging commercial issues that need to be addressed pre and post deal.”
James Livingston at Foresight commented:
“Entering the largest market in the world is an intimidating undertaking and having HMT as trusted advisors alongside us during the transaction was a key ingredient in getting the deal completed.”
Paul Read commented:
“We were delighted to have worked with Procam and Foresight on their expansion into the US market. This is their third acquisition since the MBO and we look forward to working with the Management team on the next phase of growth.”
Why HMT
Passionate
We are passionate about delivering an optimal outcome for our clients and helping them achieve their personal objectives. We understand entrepreneurial businesses because we are one
Our Deals
Personal
Partners are supported by high-calibre professional staff who share our core values of enthusiasm, energy, entrepreneurialism and empathy to our client’s objectives
Our Team
Proven
Our Partners have unparalleled deal experience in the mid-market and are supported by a team of dedicated deal-doers with specialist capabilities and experience
Our Awards
Connected
We have an extensive network of acquisitive corporates, institutional investors and debt providers both in the UK and internationally through our membership of our global network ICFG
Our NetworkLatest News