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
  • 16 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



Wooden Camera

Broadcast Solutions Inc

Willys Widgets

Tai Audio

Paralinx LLC

FJS International, LLC

CineTape

Abel Cine

Technodolly

Ritter Battery

CineLab

Gamma Ray Digital Inc

Media Blackout - Custom Cables and AKS

Visual Products

Rig Wheels Passport

The Slider

Aerial Filmworks

Metropolis Post

Glidecam

rebotnix Technologies

Tai Audio

Abel Cine

Metropolis Post

Glidecam

Ritter Battery

CineTape

Technodolly

Willys Widgets

The Slider

Visual Products

rebotnix Technologies

Paralinx LLC

Broadcast Solutions Inc

Aerial Filmworks

Media Blackout - Custom Cables and AKS

CineLab

Wooden Camera

Gamma Ray Digital Inc

Rig Wheels Passport

FJS International, LLC