London, 15th October 2019 – UK lower mid-market investor, Tenzing, today announces that it has invested in EIKON, a global specialist in the entertainment industry.
EIKON’s core offering is mastering, versioning and localisation services for the film, TV and trailer market, including visual effects, subtitling and censorship. EIKON is committed to being at the forefront of innovation having developed software products in campaign management, licensing and hosted workflow.
EIKON partners with the major Hollywood studios and global streaming platforms, working on box office releases including Ad Astra, Gemini Man and Joker. With the fastest high-quality turnaround times in the industry, market-leading facilities and software, and a passionate team, they have built a fantastic reputation for service, quality and security.
EIKON is the fastest-growing player in its market, growing revenues on average 55% every year over the last three years as it expands to meet rising demand. To support EIKON’s Founders on their journey, Tenzing has provided significant growth capital to further invest in the company’s state-of-the-art screening facilities in London and Los Angeles, as well as continued software and product development. EIKON will draw on Tenzing’s tech growth ecosystem, including the super-strengths of its Entrepreneurs Panel to accelerate growth and increase product depth.
Peter Wright, CEO of EIKON, commented: “From the moment we met the Tenzing team we saw a strong cultural fit in our shared customer-centric approach and ambition. Since we founded EIKON five years ago, we’ve focused on becoming a market leader within the industry and ensuring we scale appropriately to accommodate. We believe that Tenzing is the ideal partner to enable us to continue delivering the best possible service for our customers as we grow to meet increasing demand.”
Guy Gillon, Founder and Co-Managing Partner of Tenzing commented: “EIKON embodies everything we would hope to support in a company, with its relentless focus on customers and quality, history of rapid growth and innovation, and leading position in a growing global market. We’re delighted that Peter and the EIKON team have chosen to partner with us and we can’t wait to support them in the next stage of their journey.”
Advisors to the transaction were NOR Capital, Osborne Clarke, Gateley, Wilkins Kennedy, TLT LLP, RPL and PwC.
This is Tenzing’s fifth investment from its maiden £200m fund and underlines its commitment to investing in high growth, independent market leaders and backing high energy, driven management teams and Founders in the UK lower mid-market.