Inspirit invests in Procam Group

The company had until now been under a majority ownership of the management, alongside Foresight Group as a significant minority shareholder.

The transaction includes Procam's wider operations of Take 2 Films, Procam New York and Procam Projects, but excludes the True Lens Services subsidiary, which will remain under the ownership of Foresight Group.  

Inspirit is currently investing from its debut vehicle, Inspirit Fund I, which held a final close on its £50m hard-cap in December 2019. The fund invests £2-10m in UK SMEs with revenues greater than £20m and enterprise values of up to £50m, including acquisition finance. 

The GP's investment will enable Procam to accelerate its growth plans and realign focus on its core business offering of digital cinema and film equipment rental.  

Inspirit partner Albert Farrant said in a statement that the company was positioned for strong growth given the backlog in content production following the national lockdown, and increasing consumer demand for high-quality original television and movie productions.

Previous funding
In 2013, Foresight backed a management buyout of Procam TV, led by then managing director John Brennan, with the GP acquiring a significant minority stake for £1.8m, according to Insider Media. NatWest reportedly provided debt for the transaction.

Company
Founded in 1989 and headquartered in London, Procam is a supplier of production equipment to media industry professionals in the UK and overseas. The company supports productions across a multitude of genres, including music, live events and streaming, to commercials, feature films, drama, reality, fixed rig, and factual television. According to LinkedIn, the company employs 51-200 staff. 

People
Procam Group – John Brennan (CEO).
Inspirit Capital – Albert Farrant (partner).

Advisers
Equity – K&L Gates (legal).

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• Topics
• Expansion
• UK / Ireland
• Media
• United Kingdom
• Foresight Group