Sil­ver Lake buys Cast & Crew

Los Angeles Times - - BUSINESS BEAT - By Richard Verrier richard. verrier@ latimes. com

Pri­vate eq­uity firm Sil­ver Lake has ac­quired Cast & Crew En­ter­tain­ment Ser­vices, the Bur­bank pay­roll ser­vices com­pany.

Sil­ver Lake, a lead­ing tech­nol­ogy in­vestor based in Menlo Park, Calif., whose port­fo­lio in­cludes GoDaddy, Alibaba Group and tal­ent agency WME/ IMG, ac­quired Cast & Crew from ZM Cap­i­tal, the com­pa­nies said.

Terms were not dis­closed, but a per­son fa­mil­iar with the trans­ac­tion said the deal was val­ued at $ 700 mil­lion.

Cast & Crew em­ploys 350 in 11 of­fices, with the bulk of the work­force in Bur­bank. Se­nior man­age­ment will re­main in their cur­rent roles, ac­cord­ing to a state­ment.

Cast & Crew is one of the en­ter­tain­ment in­dus­try’s lead­ing providers of pay­roll ser­vices, resid­u­als and work­ers’ com­pen­sa­tion in­sur­ance. Com­pany ex­ec­u­tives said Sil­ver Lake’s back­ing will help it ex­pand as the en­ter­tain­ment in­dus­try ex­pands across dig­i­tal plat­forms.

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