A Company gets new lease on life
Licensing and distribution group sells 25.2% stakeCANNES -- Licensing and distribution group A Company received a new lease on life after private equity group Future Capital Partners and Screen Capital International together acquired a 25.2% stake in the Berlin-based operation that specializes in the markets of Russia and Eastern Europe.
London-based fund Aramid Entertainment also has backed A Company with a €10 million ($13 million) loan. The cash will keep the lights on at A Company and provide seed capital to expand the group's operations.
"This new capital is far and beyond what we need to cover operational costs," A Company founder and head Alexander van Dulmen told THR. "This will allow us to expand our business by, for example, acquiring companies in our core territories."
A Company was rocked by the near-collapse of its shareholder Senator Entertainment. Senator had agreed to acquire 25% of A Company but had to hand back half its stake after failing to keep up payments. Senator continues to hold a 12.6% stake in A Company.