Tenzing invests in Eikon

The acquisition is Tenzing's fifth from its debut fund, which closed on £200m in 2017. The fund has a generalist remit and will target buyout investments in UK businesses valued at up to £75m.

The investment will be used to invest in the company's screening facilities in London and Los Angeles, as well as its software and product development.

Previous funding
YFM Equity Partners made a growth investment in the company in April 2018, drawing equity from its co-investment vehicle YFM Equity Partners 2015 Co-investment alongside its two VCTs, British Smaller Companies VCT and British Smaller Companies VCT2. Unquote understands YFM is limited to a maximum equity ticket size of £10m and invested the full amount in Eikon.

Company
Founded in 2014, Eikon offers mastering, versioning and localisation services for the film and TV markets. Services also include visual effects, subtitling and censorship. Based in London with an office in Burbank, the company employs 116 people, according to LinkedIn.

People
Tenzing Private Equity – Guy Gillon (founder, co-managing partner).
Eikon Group – Peter Wright (CEO).

Advisers
Equity – Nor Capital (corporate finance); Osborne Clarke (legal); Gateley (legal); Wilkins Kennedy (financial due diligence); TLT (legal); PwC (financial due diligence).

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• Topics
• Expansion
• UK / Ireland
• Consumer
• United Kingdom
• Tenzing
• YFM Group
• Osborne Clarke
• Gateley
• PwC