Fazal Shah will become managing director and Steve Good technical director for Clear Cut Hires. The two previously ran McMillan's London business. McMillan, which had 10 offices across the UK, ceased trading in December with the loss of 140 jobs.
Clear Cut Hires aims to replicate McMillan's business of renting editing equipment to producers and broadcasters. Clear Cut Pictures company director Horacio Queiro believes the move will help increase post-production work for Clear Cut Pictures.
He said: "This makes us a group. It is symbiotic to our other business - we offer services to producers and now we can install kit in their offices for editing, then offer post-production on top."
Querio has invested £250,000 in the new division, which will be housed in Clear Cut Pictures existing office and warehouse space in Shepherd's Bush, west London. He has also earmarked another quarter of a million pounds for future investment.