Publicly held business development company Allied Capital has made a $28.5 million minority investment in television and movie studio software and services provider DVS Intelestream.
DVS provides services such as editing, restoration and distribution of audio and video content. Through the company’s partnership with CCI Digital, for example, DVS is responsible for dubbing television shows “Desperate Housewives” and “Lost” in Spanish, while the company’s restoration services software allows entertainment companies to eliminate dirt from video masters prior to home video distribution.
DVS was founded in 2000 by Donald Stine and Richard Appell, and has up to this point expanded organically and through acquisition. Management will continue to maintain its majority stake in the business post closing.
For the Washington DC-based Allied, the investment gives the firm an angle to play into the explosion of new entertainment mediums.
Allied Capital managing director Jeri Harman said in a statement, “With the continued proliferation of media outlets, media alternatives…as well as media content providers, DVS is well positioned to continue growing its market share.”
The acquisition of DVS Intelestream closely follows Allied Capital’s acquisition of Hot Stuff Foods earlier this month. In that transaction, Allied provided $164 million in financing for the management led recapitalisation. Kohlberg & Co. was the selling shareholder in the transaction.