Foundry kicks off next growth phase with new majority owner
HgCapital share company’s vision to deliver disruptive technologies to creative industries.
Foundry, a leading provider of award-winning creative software, announced a majority investment from HgCapital, one of the UK’s most prestigious private equity firms. Comprising experts from technology and business sectors, HgCapital are perceived as one of the top investors in European software. Foundry will sit within the Technology, Media & Telecommunications (‘TMT’) sector of HgCapital. Under the terms of the deal, HgCapital will assume majority ownership from The Carlyle Group for an enterprise value of £200 million ($312 million USD).
“Knowing the direction we plan to take Foundry, we identified that HgCapital was the ideal partner to build on what The Carlyle Group have helped us achieve,” said Bill Collis, President. “Nic and his team have such deep software experience, take a long term view on investing and have an amazing track record in taking already solid companies to even greater levels of success. HgCapital achieve this through investment, both in R&D and people, with a deep respect for customer loyalty and satisfaction.”
“With this deal, we remain one of the few independent companies solely focused on creative industries. This lets us pursue our best-in-class strategy, prioritizing research and innovation; and teaming with other companies to create powerful collective solutions.”
There are so many elements about Foundry that we find attractive, not the least of which is the core management team.
"This is a company that constantly innovates, both in terms of their technology, as well as their business. Bill and his team love nothing more than running head on into the challenges facing creative industries, developing exciting disruptive technologies that have huge potential," continues Nic.
Foundry’s development philosophy centres on the needs of the artists, designers and storytellers identified through our incredibly collaborative customer relationships. Solutions, whether built from the ground up, acquired or developed with partners, will always focus on today’s business challenges and future opportunities.
This will leverage our world-class experience in visual effects, design and games. It continues our leadership in emerging trends around collaborative ideation, the automation of creativity, concurrent marketing and manufacturing, as well as new behaviours in storytelling, media collaboration, creation and consumption, such as VR and AR.