Beringea, manager of the ProVen VCTs, has backed the management buy-out of independent producer Eagle Rock Group from Hg Capital. The management team includes chief executive Terry Shand, chief operating officer Geoff Kempin and finance director Simon Hoskin.
Beringea, manager of the ProVen VCTs, has backed the management buy-out of independent producer Eagle Rock Group from Hg Capital. The management team includes chief executive Terry Shand, chief operating officer Geoff Kempin and finance director Simon Hoskin.
Beringea invested from ProVen VCT and ProVen Growth & Income VCT. Bank financing was provided by Coutts, while LongAcre Partners acted as financial advisers to the management team. Previous investor in Eagle Rock, edel music AG, also backed the deal.
Eagle Rock produces, publishes and distributes music programming and documentaries for TV and DVD. Key catalogue properties include live performances from artists such as The Bee Gees, The Who and Janet Jackson.
Jeff Bocan, investment director at Beringea says: ‘We look forward to leveraging our contacts and expertise to help Eagle create greater value from its content across all media platforms, particularly in digital media.’
