Film and television production supply business Filmtools Inc. will accelerate its growth plans after signing a strategic relationship agreement with Paladin Capital Partners LLC.
The contract between Filmtools, in Burbank, and Paladin Capital, in Westlake Village, runs for five years. Financial terms of the deal were not disclosed but Paladin has the option to acquire a 40 percent equity stake in Filmtools.
Founded by Stan and Kim McClain in 2000, Filmtools has grown into one of the largest suppliers to the Hollywood film studios, and independent and student filmmakers.
With the business of filmmaking evolving, this is the best time for Filmtools to leverage its position in the industry, McClain said.
"Paladin Capital gives us bandwidth in business strategy development and deployment so we can substantially broaden and hasten our market presence," McClain said in a prepared statement.
Paladin Capital’s role will be to strengthen the sales and business development functions at Filmtools, upgrade vendor and procurement programs, and enhance the customer purchasing experience, said Gary Sproule, an operating partner with Paladin Capital.