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H.I.G. Capital Acquires Hula Post Production
Add-On Acquisition Broadens Telecorps' Post-Production Capabilities and Extends Leadership in Key Market Segments
MIAMI - September 10, 2009 - H.I.G. Capital, a leading global private equity firm, announced today the acquisition of Hula Post Production, Inc., a premier bi-coastal provider of mobile equipment rentals and related services to the film and television industry. From its offices in Los Angeles and New York, Hula serves a diverse customer base with customized workflow solutions supported by leading edge technology. Hula is the latest addition to the Telecorps Holdings family of companies, which also includes Wexler Video, Coffey Sound, PostWorks and Orbit Digital.
"Hula extends our leadership in several key market segments and furthers our ability to deliver a comprehensive, end-to-end solution for our customers. Together with PostWorks and Orbit Digital, who we acquired in May of this year, we have assembled the capabilities to serve content creators through every aspect of the production and post-production process," said Elliot Maluth, Managing Director of H.I.G. Capital's San Francisco office.
Denine Nio, CEO of Hula, added, "By focusing first on our customers, we have quickly become a leader in non-linear, VTR and media storage rentals. We are excited to partner with Telecorps, and intend to leverage their substantial resources to offer a broader range of equipment and services, while maintaining the uncompromising customer service that has fueled our growth to date."
Denine Nio became an owner of Hula in 2002 when the company was a small, Los Angeles based start-up. In the seven years since, the company has grown at an average rate of nearly 70% per year and established itself as one of the most respected brands in the industry. Hula expanded beyond Los Angeles into New York in 2004 and now serves customers across the United States.
Chris Thompson, CEO of Telecorps, observed, "We have always had a great respect for what Denine and her team have created. Hula has an excellent reputation and an impressive roster of successful and satisfied customers. I am thrilled to have Hula join the Telecorps family as we continue to build a national, industry-leading film and television services provider."
About Hula Post Production
Hula is a premier post-production services provider that has built its brand by delivering exceptional customer service. Headquartered in Los Angeles with a satellite office in New York, Hula offers a state of the art fleet of editing systems, decks, and related post-production equipment to a diverse customer base across the country. For more information, please contact Robert Nio at +1-818-470-8655.
As the parent company of Wexler Video, PostWorks, Orbit Digital, and Coffey Sound, Telecorps is a leader in production and post-production equipment rental and related services to the broadcast, cable, and feature film industries. With multiple offices in Los Angeles and New York, the Telecorps family of companies combines cutting-edge technology with world-class engineering and superior customer service. Each of the Telecorps companies create custom, cost-effective workflows for a wide range of programming, including Emmy Award-winning series “30 Rock”, "Extreme Makeover: Home Edition", and celebrated films like “The Da Vinci Code". Wexler, PostWorks, Orbit and Coffey Sound are dedicated to delivering best-in-class customer service and setting the standard for innovative end-to-end solutions worldwide. For more information, please contact Jennifer Toney, Sales & Marketing Manager, at +1-818-846-9381 ext 385.
About H.I.G. Capital
H.I.G. Capital is a leading global private equity investment firm with more than $7.5 billion of equity capital under management. Based in Miami, and with offices in San Francisco, Atlanta, Boston, and New York in the U.S., as well as affiliate offices in London, Hamburg and Paris in Europe, H.I.G. specializes in providing capital to small and medium-sized companies with attractive growth potential. H.I.G. invests in management-led buyouts and recapitalizations of profitable and well managed service or manufacturing businesses. H.I.G. also has extensive experience with financial restructurings and operational turnarounds. Since its founding, H.I.G. has invested in and managed more than 200 companies worldwide. The firm's current portfolio includes companies with combined revenues in excess of $7 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.