Stone Canyon Industries has sold Industrial Color Brands, a provider of video production services, to Frontenac.
Industrial Color Brands (ICB) is a group of vertically integrated companies – Fast Ashleys Studios, Smashbox Studios, Industrial Color, Impact Digital, and Globaledit – that provide end-to-end video production services including studio facilities, still and video capture, computer-generated imagery, augmented reality, and post-production services. The customers of ICB are active in the fashion, retail, advertising, media and entertainment industries. Steve Kalalian, Chief Executive Officer, co-founded the predecessor of ICB in 1991. The company is headquartered in New York and has locations and production studios in Manhattan, Brooklyn, Los Angeles, and King of Prussia, PA (www.industrialcolorbrands.com).
“We are fortunate to have been in a partnership with Stone Canyon and its management team, and we are proud of everything our teams accomplished together,” said Mr. Kalalian. “Under Stone Canyon, we were able to rapidly expand our ongoing strategy to provide our clients with full creative production services that meet their needs in today’s changing marketplace, and look forward to continuing that tradition with Frontenac.”
Stone Canyon invests in companies valued between $50 million and $1 billion. Sectors of interest include consumer and retail; food and ingredients; industrial; technology and business services; and transportation. The firm was founded in 2014 and is led by Co-CEOs James Fordyce and Adam Cohn and is headquartered in Los Angeles (www.stonecanyonllc.com).
“We are extremely pleased with the successful outcome of Industrial Color. We are proud of the accomplishments we have achieved under the leadership of Steve Kalalian and we wish Steve, his management team and all of the company’s employees great success for the future,” said Mr. Fordyce.
“We are excited to be partnering with Industrial Color, which fits with our strategy of investing behind founders and strong leadership teams,” said Joe Rondinelli, Vice President at Frontenac. “The market for digital content creation is rapidly growing and Industrial Color’s diverse service offering meets this accelerating demand. We will continue to make investments that add complementary content creation capabilities and further support best-in class services for clients.”
Frontenac invests in lower middle-market businesses that operate primarily in the consumer, industrial, and services industries. The firm was founded in 1971 and is headquartered in Chicago (www.frontenac.com).
Los Angeles-based mid-market investment bank American Discovery Capital (www.americandiscoverycapital.com) was the financial advisor to Stone Canyon.
© 2017 Private Equity Professional | August 11, 2017
