WK Corporate Finance ("WKCF") has advised the directors’ of digital post-production services company EIKON Group Limited (“EIKON”) on its development capital raise, funded by YFM Equity Partners (“YFM”) and Allied Irish Bank (“AIB”).
EIKON was founded in 2014 by Peter Wright (CEO), Richard Fish (Commercial Director), Rick Corne (Innovations Director), Jon Gardner (Operations Director) and Russell Wetherell (Creative Director).
EIKON have cutting edge technology facilities in Soho, London and Burbank, Los Angeles, offering digital mastering and localisation to the film, broadcast and online media industry. Clients include Paramount Pictures, Twentieth Century Fox, Sony Pictures Entertainment, Warner Bros, Universal Pictures, CBS and Netflix.
Now in their fifth year, EIKON have doubled revenues year on year and have grown from a staff of 6 to 100. Having recently finalised a lease on a new 20,000 square foot building in Los Angeles, growth is expected to continue at the same rate as the company develop current core business revenues and extend service offerings within the entertainment industry.
YFM’s funds will be used to support the expansion into the US where a new state of the art studio will be built in Burbank, Los Angeles as well as continued investment in the development of technology to enhance the service delivery to customers.
Recent EIKON work includes the worldwide localisation and mastering for titles “Peter Rabbit”, “Greatest Showman”, “Shape of Water”, “Three Billboards Outside Ebbing, Missouri”, “A Quiet Place”, ‘Red Sparrow”.
Commenting on the deal, Peter Wright (CEO, EIKON Group Limited) remarked:
“Working with WKCF has enabled EIKON to significantly speed up the development and delivery of a number of software tools being developed in-house. These will enhance and scale the solid systems base we already have in our marketplace, thereby further increasing our attractiveness to customers and providing access to new revenue streams.
A large part of our financing will be used to fit-out a new technical facility in Hollywood, increasing our existing physical floorspace 10-fold. EIKON's new facility will be the newest and most technically advanced digital facility in Hollywood, mirroring what we have today in Soho, London.
To help manage this ongoing rapid global expansion we have been recruiting some exceptional new members to compliment our existing team of 100 staff. These are very exciting times and I personally was delighted to be working with Dan and WKCF to deliver this. We were keen to work with WKCF as our corporate finance advisors as they understood our business from the first meeting, were excited about what we were doing and above all moved quickly to help us source a great financing package.”
Daniel Jonas (Associate Director, WK Corporate Finance) commented:
“I am delighted for Peter and his team. EIKON’s rapid growth to date has been nothing short of exceptional and their continued tech investment, along with the new state of the art facilities in LA, will no doubt see it continue the impressive growth trajectory”
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