On June 16, 2016 Cast & Crew Entertainment Services, the premier provider of technology-enabled payroll and production management services to the entertainment industry, announced it had signed a definitive agreement to acquire CAPS Payroll, a leading payroll provider spanning multiple important entertainment end markets including commercial production, venues, music tours, live events, unscripted television and independent film. The combination creates a market leader with complementary services, diversified client base and strong commitment to digital solutions. Kaye Scholer served as counsel on the deal to CAPS, a portfolio company of Kaye Scholer’s private equity sponsor client Uni-World Capital.
Silver Lake, the global technology investing leader and controlling shareholder of Cast & Crew, is committing substantial additional equity to fund the acquisition and support Cast & Crew’s continued growth.
“Cast & Crew and CAPS are an ideal fit, with complementary client bases, compatible technology portfolios and consistent corporate cultures,” said Eric Belcher, President and Chief Executive Officer of Cast & Crew. “This combination will offer clients the industry’s best suite of technology enabled solutions and expand support, training and career opportunities for employees of both companies.”
Doug Sylvester, Chief Executive Officer of CAPS, noted that Cast & Crew and CAPS management are aligned with respect to the combined company strategy. “We are delighted to join an organization with exceptional relationships and expertise in the entertainment industry, a deep commitment to customer service and a clear vision of where the market is going,” he said. “Cast & Crew has a wonderful reputation with clients and employees alike, and we look forward to becoming part of the team.”
The client team was led by Corporate partner and Department co-chair, Steve Koval and Corporate counsel David Menchel, and included partners Laurie Abramowitz, Glynna Christian, Claudia Higgins and Jeff London, counsel Gregg Benson, Peter Danias, Lauretta Moran and Mary Lou Zwick, and associates LaToya Edwards, Connie Ericson, Nikki Mondschein and Sharon Obialo.
Also of Interest
- Bloomberg Business: Moriarty Returns for “Taking Stock” ETFs & Bitcoin Podcast September 22, 2016 • Media Mentions
- Axford and Williams Discuss UK Influence on EU Banking Rules in Law360 September 21, 2016 • Media Mentions
- O’Keefe Featured in the Daily Journal on the 2016 Proxy Season September 15, 2016 • Media Mentions
- Pro Bono Team Advances CodeEd’s Comp Sci Efforts for Coeds September 14, 2016 • Client Successes
- SEC Proposes Exhibit Hyperlink Requirements September 8, 2016 • Client Alerts
- Consumer Products: Adapting to Innovation Fall 2016 • Reports / Newsletters
- Kaye Scholer Advises The Mortgage Lender on £250 Million Warehouse Financing September 2, 2016 • Client Successes
- ILS and Zinsser Analytic Shareholders Sell to Gardner Denver Medical September 2, 2016 • Client Successes
- Kaye Scholer Secures Dismissal of Merger-Related Class Action Against Baltic Trading September 1, 2016 • Client Successes