October 2006
New York and West Hollywood (October, 2006) – Orbit Digital, an international provider of mobile post-production equipment and services to the feature film and television industries, has announced its merger with PostWorks, New York, the east coast's most comprehensive full-service film and high definition post-production facility. Orbit Digital’s Managing Partner Alastair Binks has been appointed to the role of president for the combined company. Financial terms of the merger were not disclosed. Orbit Digital was advised by its investment bankers Hadley Partners (www.hadleypartners.com).
"Orbit has had the opportunity to partner with a number of companies in the past to help provide a comprehensive package of services for our clients. More than any other company, PostWorks has impressed us with the speed and flexibility they’ve shown in embracing and investing in new technology and the services required to help clients benefit from technology. As an independent company, it was refreshing to find a company that embraces the same entrepreneurial spirit that Orbit was founded on,” said Alastair Binks.
“Through this merger,” explained David Rosen, the CEO of PostWorks, “Orbit’s clients will have direct access to the full range of PostWorks’ offerings, including film processing, telecine and digital intermediate finishing, while PostWorks’ clients will have the opportunity to work with Orbit for a complete range of location-based post solutions, supported by the hallmark standards of service which first attracted us to Orbit, and which have earned the respect of Hollywood’s elite studios and filmmakers.”
“I am very pleased to have worked with Hadley Partners to help us consummate this transaction,” Binks continued. “Working with us on both a non-transactional and on a transactional basis for two years, Hadley Partners did an outstanding job to help pair us with the right partner and to achieve full value for all of Orbit’s owners.”
About PostWorks, New York and Orbit Digital (www.pwny.com)
Since its founding in 1995, PostWorks, New York has emerged as the region’s most comprehensive digital motion picture and HD post-production facility, employing a world-class team of artists, engineers and producers to serve its clients through the post production process. In 2006, PostWorks merged with Orbit Digital, a leading global provider of mobile post production systems and support services, to broaden its collaboration with the feature film and television communities from locations in Los Angeles, London and New York. Together, PostWorks and Orbit offer one complete source for every post-production requirement, including film processing, telecine/scanning, non-linear editorial and HD picture finishing, digital intermediate and film recording, as well as comprehensive film and TV sound services. The company’s clients include Academy Award-winning filmmakers, cutting-edge independents and every major film studio and broadcaster.
About Hadley Partners, Inc. (www.hadleypartners.com)
Founded in 1999, Hadley Partners always seeks to provide the highest-quality merger & acquisition advisory, private placement and financial advisory services. We have a world-class team of veteran bankers that bring Wall Street experience to middle-market and emerging growth companies. Our goal is to develop relationships of trust with the leaders of these companies and with investors that pursue investment opportunities in such companies. We provide our services in a fair and flexible manner, and we always put our clients’ interests first. Hadley Partners is a registered broker-dealer, and a member of the National Association of Securities Dealers and the Securities Investor Protection Corporation.
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