Clearlake Capital has led a recapitalisation of 3D camera rig specialists 3ality Digital. In connection with the deal, Clearlake has acquired the majority of the newly-issued preferred stock of the company and will own a majority of the voting shares of 3ality Digital. 3ality management also participated in the transaction. Terms were not disclosed.
“Clearlake Capital is investing in the biggest revolution in entertainment and sports production today – the emergence of 3D film and video programming, and we are thrilled to welcome them at this exciting time,” said Steve Schklair, Founder of 3ality Digital, who will continue to serve as the company’s CEO. “3ality Digital offers acknowledged leadership and best-in-class technologies, and we have been first in almost every 3D production event around the world. The backing of world-class investors ensures our continued significant investment in cutting-edge technologies that are driving down costs while significantly improving quality in 3D production.”
“3ality Digital provides the highest quality 3D production technologies and equipment for film and television companies,” said Behdad Eghbali, a founding partner at Clearlake. “In addition, 3ality reduces the cost and time associated with 3D production, provides superior images, and reduces eye strain. We are very pleased to partner with this proven and innovative team as the momentum behind 3D continues to build and as 3ality continues to lead the way.”
Clearlake is a diversified private investment house with offices in Los Angeles and New York. They have led over 50 investments totalling some $2.6 billion.