Mezzanine Financing Supports Epic Production Technologies' Acquisitions
Of Q1 Production Technologies And Ed And Ted's Excellent Lighting
NEW YORK, Sept. 26 Praesidian Capital Investors, a leading provider of
mezzanine capital for small and mid-sized companies, has invested $12
million of senior subordinated debt in Epic Production Technologies, a
company formed through the merger of Q1 Production Technologies Inc. and Ed
and Ted's Excellent Lighting, Inc., with the support of H.I.G. Capital,
LLC.
Epic is the product of the combination of Q1 Production Technologies,
Inc. and Ed and Ted's Excellent Lighting, Inc., two leading providers of
lighting systems for concert tours, theatrical productions and corporate
and special events throughout North America. Q1 Production Technologies,
Inc. provides a comprehensive range of lighting and rigging for rentals and
production, as well as a wide selection of lighting, rigging, audio,
staging and soft goods for sales and integration. Q1 has played a role in
some of the most prestigious, complex and innovative productions including
Disney's The Lion King, Tony Award winning musicals Showboat and Ragtime
and the XV Winter Olympic Games Closing Ceremonies. Ed & Ted's Excellent
Lighting, also a provider of lighting and rigging rental and production
services, has particular expertise in the concert lighting industry, with
clients including Bon Jovi, Dancing with the Stars, KROQ, Blue Man Group
and Green Day.
"Epic brings together two talented management teams, two highly
complementary businesses and a strong equity partner in H.I.G. Capital,"
said Neil Marks, Managing Partner at Praesidian. "The combined company is
positioned to realize significant economies of scale through rental volume
with largely fixed operating costs, as well as take on larger engagements
that few competitors can service. We look forward to building an even more
successful business."
"Marc Raymond and Ted Fowler are talented executives who have built two
very successful businesses," said Elliot Maluth, Managing Director at
H.I.G. Capital. "Now, as a combined company with our support and that of
the creative and reliable team at Praesidian, Epic is poised for continued
growth."
About Praesidian Capital Investors
Praesidian Capital partners with small and mid-sized businesses,
providing private debt capital. With a focus on its core competency in
mezzanine financing, Praesidian invests in established, historically
profitable companies often in connection with a management/leveraged
buyout, recapitalization or refinancing. Based in New York City, Praesidian
manages over $400 million in committed capital. For more information, visit
http://www.praesidian.com.
About H.I.G. Capital
H.I.G. Capital is a leading global private equity investment firm with
more than $7.5 billion of equity capital under management. Based in Miami,
and with offices in Atlanta, Boston, and San Francisco in the U.S., as well
as affiliate offices in London, Hamburg and Paris in Europe, H.I.G.
specializes in providing capital to small and medium-sized companies with
attractive growth potential. H.I.G. invests in management-led buyouts and
recapitalizations of profitable and well managed manufacturing or service
businesses. H.I.G. also has extensive experience with financial
restructurings and operational turnarounds. Since its founding, H.I.G.
invested in and managed more than 200 companies worldwide. The firm's
current portfolio includes companies with combined revenues in excess of $7
billion. For more information, visit http://www.higcapital.com.
About Ed and Ted's Excellent Lighting, Inc.
Ed & Ted's was founded in 1994 in Salt Lake City, Utah by event
producer Ted Fowler, concert promoter Jim McNeill and audio company owner
Ed Pratt. Now based in Oxnard, California, the Company provides lighting
and rigging rental and production services, with expertise in the concert
lighting industry, and is known throughout the lighting industry for
providing modern, reliable rental equipment and excellent service and
support. The Company is also routinely nominated for industry trade awards,
and was recognized as "Lighting Company of the Year" in 2005 by Pro Lights
& Staging News, a major industry trade magazine. For more information,
visit http://www.edandted.com.
About Q1 Production Technologies, Inc.
Founded in 2001 by Marc Raymond and Phil Bernard and based in Winnipeg,
Canada, Q1 Production Technologies provides rental and sale of lighting
systems and superior technical support for the entertainment and event
industries. The Company is one of North America's leading technical
suppliers, with operations in seven cities throughout Canada and the US.
The Company has played a role in the most prestigious, complex and
innovative productions including Disney's The Lion King, Tony Award winning
musicals Showboat and Ragtime and the XV Winter Olympic Games Closing
Ceremonies. For more information, visit http://www.q1pt.com.
SOURCE Praesidian Capital Investors
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Related links:
http://www.edandted.com
http://www.higcapital.com http://www.praesidian.com
http://www.q1pt.com
CONTACT:
Dan Jacobs, or Anthony Feldman,
+1-212-232-2222, both of Broadgate Consultants, LLC, for
Praesidian Capital Investors
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