Saturday, September 26, 2020
Financing and M&A

Platinum Equity today announced the acquisition of Deluxe Entertainment Services Inc.’s distribution business

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.

LOS ANGELES, July 1, 2020 /PRNewswire/ — Platinum Equity today announced the acquisition of Deluxe Entertainment Services Inc.’s distribution business (“Deluxe”). 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.

“The entertainment industry, like many others, has been seriously disrupted by the coronavirus crisis,” said Tom Gores, chairman and CEO of Platinum Equity. “It will take both experience and tenacity to make it through to the other side, but we are confident that good companies with strong fundamentals and capable leadership will not only survive this crisis, but thrive.”

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