Cinesite Group, a global collective of visual effects and animation studios, has secured $215 million through various deals to sustain their ongoing operations, foster technological advancements, and facilitate strategic growth. This move comes at a challenging period for the VFX industry, where in the past few weeks, VFX titan MPC and its parent company Technicolor have faced financial difficulties.
NatWest Corporate Bank joined forces with Barclays and Santander, the studio’s current banking partners, to spearhead the funding process. Additionally, shareholder Gryphion was mentioned in the public statement about this financing.
Founded in 1991 and based out of London, Cinesite operates studios not only in its home city but also in Montreal and Vancouver. The Cinesite Group encompasses a variety of companies such as Image Engine, Trixter, Imaginarium Studios, L’Atelier Animation, FX3X, Assemblage Entertainment, and Squeeze Animation.
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Tracing its roots back to 1991, Cinesite, headquartered in London, has studios in London, Montreal, and Vancouver as well. The Cinesite Group, which is made up of several companies including Image Engine, Trixter, Imaginarium Studios, L’Atelier Animation, FX3X, Assemblage Entertainment, and Squeeze Animation, is where you’ll find Cinesite.
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Cinesite, a company founded in 1991 and headquartered in London, has studios spread across three locations: London, Montreal, and Vancouver. The Cinesite Group includes Image Engine, Trixter, Imaginarium Studios, L’Atelier Animation, FX3X, Assemblage Entertainment, and Squeeze Animation, all of which are part of the broader Cinesite family.
Over the past few years, the visual effects (VFX) sector has faced challenges, one of which being the repercussions of the Hollywood strikes. As stated in their announcement, “Cinesite Group endeavored to keep as many of its highly-skilled artists and technical personnel on board during the strikes… This dedication to talent, although negatively affecting the company’s immediate finances, was essential for preserving quality and specialized know-how.”
Despite the difficulties caused by Hollywood strikes, Cinesite Group did their best to keep their skilled artists and technicians on staff. This commitment to talent, though it hurt their short-term finances, helped them maintain high quality work and expertise.
For over 30 years, we’ve been a part of this industry, experiencing numerous changes. Our long-term success can be attributed to our knack for adapting. In the upcoming stages of our business journey, we plan to capitalize on the opportunities that have arisen from recent disruptions,” stated Antony Hunt, CEO of Cinesite Group in a public announcement. “Due to the renewed support of our banks, shareholders, and other key partners, as well as the continued trust our clients place in our services, we will continue to create outstanding work for audiences, fostering innovation and driving studio expansion.
According to William Ford, who is the chief investment officer at Gryphion, this financing bundle clearly shows that Cinesite’s stakeholders and financial institutions are confident about the revival of the industry and the ongoing need for top-notch storytelling.
More to follow.
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2025-03-13 20:19