Barclays Buys Majority Stake in Oscar-Winning U.K. Effects Firm The Mill
The stake, bought from U.S private equity firm Carlyle Group values The Mill at $193 million.
LONDON -- Barclays Private Equity has bought a majority stake in British visual effects company The Mill, according to Reuters .
The stake, bought from U.S private equity firm Carlyle Group values The Mill at £119 million ($193.1 million), Barclays Private Equity, said Tuesday.
The Mill produces digital visual effects for for British television dramas such as Doctor Who and Primeval.
In 2001, the company won an Oscar for its special effects work on Gladiator. The Mill has offices in New York and Los Angeles and recently opened a joint venture in Singapore with British creative agency BBH.
The Mill posted earnings of £74.2 million ($121 million) in the year to Dec. 31, 2010, the company said.
The Mill's co-founders, chief executive Robin Shenfield and COO Pat Joseph, will remain with the company.