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Platinum Equity Acquires Distribution Business of Deluxe Entertainment to Expand Entertainment Portfolio
Tuesday 07 July 2020

US-based Platinum Equity has acquired the distribution business of California-based content provider Deluxe Entertainment Services Inc. to expand entertainment portfolio, the company said.

Financial terms were not disclosed. Deluxe Entertainment's creative businesses are not included in the acquisition.

Former Deluxe CEO Cyril Drabinsky, who left the company in 2016 to found CineVizion, is returning to lead the business as CEO under Platinum Equity's ownership.

As part of the transition, CineVizion's assets will be integrated into Deluxe.Cyril's leadership, combined with Platinum's financial resources and operational expertise, will help the company move forward stronger than ever.

The Deluxe and CineVizion deals represent the fourth and fifth buy-side transactions Platinum Equity's Small Cap team has completed in the last four months.

Skadden, Arps, Slate, Meagher and Flom LLP provided legal counsel to Platinum Equity on the acquisitions of Deluxe and CineVizion. Alston and Bird LLP provided legal counsel to Platinum Equity on the financing of the transactions.

Moelis and company LLC acted as financial advisor to Deluxe Entertainment Services Inc. and Stroock and Stroock and Lavan LLP acted as its legal counsel. Sklar Kirsh provided legal counsel to CineVizion.

Platinum Equity is a global investment firm with approximately USD 23bn of assets under management and a portfolio of approximately 40 operating companies that serve customers around the world.

The firm is currently investing from Platinum Equity Capital Partners V, a USD 10bn global buyout fund, and Platinum Equity Small Cap Fund, a USD 1.5bn buyout fund focussed on investment opportunities in the lower middle market.
Date Published: 07/07/2020