Seaport Capital (“Seaport”), a private equity firm focused on investments in business and information services and communications companies, today announced that it has made a strategic investment in Filmwerks, LLC (“Filmwerks”), a provider of mission critical production solutions, including power, structure, and lighting, to the live event industry. The Filmwerks management team will continue to lead the company. Terms of the transaction were not disclosed. Seaport funded the investment through Seaport Capital Partners V, a $230 million private equity fund.
Seaport Capital Partner, Bill Luby, discussed the investment, saying “We have been impressed with the Filmwerks team and the growth they have achieved over the years. Mike Satrazemis and his team have shown the ability to develop long-lasting customer relationships built on trust and reliability. We are excited to work with Filmwerks to broaden the company’s presence and support the team as they continue to grow the platform.”
"We are super excited to have Seaport Capital as our partners," said Filmwerks CEO, Michael Satrazemis. "We view Seaport Capital as an experienced strategic and financial partner who can help us continue to grow and achieve our goals. We feel confident that we have chosen the right partner to help Filmwerks reach the next step in its growth trajectory.”
Bill Luby continued, “Filmwerks fits nicely with our previous experience in the critical infrastructure, data center, and sports verticals. Its business model matches Seaport’s investment strategy well.”
Founded in 2002 and headquartered in Wilmington, NC, Filmwerks provides mission-critical production solutions, including power, structure, and lighting, for live events to over 100 clients. Michael Satrazemis, CEO, founded the company and has led Filmwerks to become a best in class service provider to the live event space. For additional information, visit www.filmwerksintl.com.
About Seaport Capital
Founded in 1997, Seaport Capital invests in middle market companies in the business and information services, communications, and media sectors. Seaport works with talented management teams to create valuable companies that are leaders in their market segments. Seaport's extensive investing experience enables it to develop successful strategies; its relationships and resources help achieve them. The firm seeks to invest $10 to $30 million of equity capital in private companies generating EBITDA between $3 and $15 million. For additional information, visit www.seaportcapital.com.