Take 2 Films acquires ELP kit20 October 2010
Take 2 Film Services has acquired £400,000 worth of lighting equipment from Elstree Light and Power (ELP) through media and broadcast finance company Azule Finance.
Take 2 Lighting has acquired the assets from ELP to scale up its operations and boost the lighting division of their business. The rental company already has a number of lighting assets to complement its production portfolio, but needed to scale up its inventory to respond to increased demand for a complete production solution from its customer base.
In need of quick finance to take advantage of favourable market conditions, Take 2 used Azule whose specialist understanding of the media and broadcast industry meant that it was able to quickly secure finance for the deal.
Glyn Edridge, Managing Director of Take 2, commented: "By arranging finance quickly through Azule we were able to rapidly scale up our lighting inventory. The acquisition has enabled us to grow our lighting arm, Take 2 Lighting, and offer our customers a complete production solution in live production and cinematic environments.”
The reasons for ELP disposing of the kit are yet to become reliably clear.