Cast & Crew Entertainment Services, which offers technology-enabled payroll and production management services to the entertainment industry, has signed a definitive agreement to acquire CAPS Payroll, a payroll provider spanning multiple entertainment end markets including commercial production, venues, music tours, live events, unscripted television and independent film.
Silver Lake, the global technology investing firm and controlling shareholder of Cast & Crew, is committing substantial additional equity to fund the acquisition and support Cast & Crew’s continued growth. Since Silver Lake’s acquisition of Cast & Crew in mid-2015, the company has made significant investments with an eye towards the digital future, including the release of new and advanced digital workflow solutions, the acquisition of screenwriting software leader Final Draft, Inc. and now the addition of CAPS, itself a technology pioneer in the entertainment subsectors it serves.
Providing clients with a diverse portfolio of technology-enabled services, Cast & Crew is a partner to major and independent film and television studios. Its capabilities include entertainment payroll and residuals processing; products such as its PSL production accounting software; workers’ compensation programs; and financial services such as production incentive consulting and administration. Cast & Crew is celebrating its 40th anniversary this year.
CAPS, a portfolio company of Uni-World Capital, also has a rich 25-year history and provides end-to-end production payroll and accounting solutions for clients of all sizes. The company brings particular expertise in commercial production, venues, music tours, live events, unscripted television and independent film, and is known for its technology innovation and strong commitment to customer service. CAPS’ headquarters are in Culver City, California, and the company has a strong employee base across multiple locations in the U.S. and India.
“Cast & Crew and CAPS are an ideal fit, with complementary client bases, compatible technology portfolios and consistent corporate cultures,” said Eric Belcher, president and CEO 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, CEO 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.”
“Silver Lake’s mission is to invest behind the growth of technology leaders like Cast & Crew,” added Joe Osnoss, managing director at Silver Lake. “We are enthusiastic about the compelling combination with CAPS, and our follow-on equity investment underscores our confidence in what this platform can offer to the dynamic media and entertainment marketplace.”
Chris Fuller, managing partner of Uni-World Capital, noted: “We partnered with CAPS co-founder Eric Capogrosso in May 2011 to accelerate the growth of CAPS and enhance its strategic position through investments in technology and people to help take the business to the next level. Those efforts were quite successful, and I am pleased to see CAPS now joining the Cast & Crew family where CAPS will be optimally positioned to continue to thrive.”
Cast & Crew was advised by the law firm of Kirkland & Ellis LLP.
CAPS was represented by Houlihan Lokey and Kaye Scholer LLP.
Oscar and Emmy-Winning Composer Kris Bowers Joins Barking Owl For Advertising, Branded Content
Music, audio post and sonic branding house Barking Owl has taken on exclusive representation of Oscar and Emmy-winning composer Kris Bowers for advertising and branded content.
Bowers’ recent film scores include The Wild Robot and Bob Marley: One Love, alongside acclaimed past works such as The Color Purple (2023), King Richard and Green Book. His contributions to television are equally impressive, with scores for hit series like Bridgerton, When They See Us, Dear White People, and his Daytime Emmy Award-winning score for The Snowy Day.
In addition to his work as a composer, Bowers is a visionary director. He recently took home the Academy Award for Best Documentary Short Subject for his directorial work on The Last Repair Shop. The emotionally touching short film spotlights four of the people responsible for repairing the musical instruments used by students in the Los Angeles Unified School District (LAUSD). The Last Repair Shop reflects the positive influence that musical instruments have on the youngsters who play them, and the adults in the LAUSD free repair service who keep them working and in tune.
Barking Owl CEO Kirkland Alexander Lynch said of Bowers, “His artistry, diversity of style and depth of storytelling bring an unparalleled edge to the work we create for global brands. His presence on our roster reflects our continued commitment to pushing the boundaries of sound and music in advertising.”
Johanna Cranitch, creative director, Barking Owl, added, “Kris first caught my attention when he released his record ‘Heroes + Misfits’ where he fused together his jazz sensibility with a deeply ingrained aptitude for melody, so beautifully.... Read More