Jump to content


Photo

Panavision's Recapitalization Sets the Stage for Growth

Panavision stock Light Iron

  • Please log in to reply
No replies to this topic

#1 Sue Smith

Sue Smith
  • Press
  • PipPip
  • 20 posts
  • Other
  • Hollywood CA

Posted 26 June 2015 - 05:26 PM

WOODLAND HILLS, Calif. (June 26, 2015) - Panavision, the entertainment industry's most respected designer, manufacturer and provider of state-of-the-art cinema lenses and high-precision camera systems, today announced the recapitalization of the company.
 
With the recapitalization, Panavision's senior lenders unanimously agreed to convert a majority of the company's long term debt into common stock of the company.  This major reduction in Panavision's debt enhances its capital structure and enables the company to explore growth opportunities. 
 
"This transaction is very positive news for the company and gives Panavision more fiscal flexibility for the future," said Panavision CEO and President Kim Snyder. "We now have a very healthy balance sheet, allowing us to accelerate our investment in equipment, technology and resources and further focus our efforts on meeting the needs and expectations of our customers."
 
Panavision has recently extended its industry reach into the post production realm with the acquisition of Light Iron, a leader in digital workflow solutions. 
 
The recapitalization was a private transaction that was formally completed on June 12, 2015. Panavision's major shareholders have not changed, and the company's Board of Directors and executive leadership team led by Snyder remain committed to the long term growth and success of the company.
 
#
 
About Panavision
Panavision Inc. is a leading designer and manufacturer of high-precision camera systems, including both film and digital cameras, and lenses and accessories for the motion picture and television industries. Renowned for its world-wide service and support, Panavision systems are rented through its domestic and internationally owned and operated facilities and distributor network. Panavision also supplies lighting, grip and crane equipment for use by motion picture and television productions.
 
For more information, visit www.Panavision.com, or join the company on Instagram (panavisionofficial), Twitter (@Panavision), FacebookLinkedInVimeo, and YouTube.

  • 0



The Slider

CineTape

Willys Widgets

Technodolly

Glidecam

Gamma Ray Digital Inc

Tai Audio

Metropolis Post

CineLab

rebotnix Technologies

New Pro Video - New and Used Equipment

Rig Wheels Passport

FJS International, LLC

Aerial Filmworks

Paralinx LLC

Media Blackout - Custom Cables and AKS

Broadcast Solutions Inc

Ritter Battery

Visual Products

Abel Cine

Wooden Camera

Technodolly

Glidecam

Gamma Ray Digital Inc

Metropolis Post

Paralinx LLC

rebotnix Technologies

CineTape

The Slider

Tai Audio

New Pro Video - New and Used Equipment

Willys Widgets

Rig Wheels Passport

Ritter Battery

Abel Cine

Visual Products

Wooden Camera

Broadcast Solutions Inc

Media Blackout - Custom Cables and AKS

FJS International, LLC

Aerial Filmworks

CineLab