Cast & Crew Entertainment Services has been sold by its current private equity owner to a fund owned by a Swedish investment company.
Financial terms of the deal for the Burbank entertainment industry accounting and software firm between Silver Lake, in New York, and the EQT VIII fund were not disclosed.
EQT VIII is owned by EQT Partners Inc., a Swedish investment firm. The fund launched this year and has a value of $12.2 billion.
Cast & Crew Chief Executive Eric Belcher said that the company was proud of what it achieved with Silver Lake as its majority shareholder and it would continue with EQT.
“We are delighted to partner with EQT and leverage its international presence and deep sector expertise within media, technology and services as we move through the next phase of our continued growth,” Belcher said in a statement.
Silver Lake acquired Cast & Crew in 2015 from ZM Capital, also in New York.
Cast & Crew provides payroll and accounting and other financial services to major and independent film and television studios and live event venues.