The Pavement already shares a build-ing with Goldcrest Post in Soho and has a “mutually beneficial alliance” that sees the companies share some resources.
The investment will see Goldcrest take a majority stake in the privately owned firm for an undisclosed fee. Goldcrest's owners Nick and John Quested and chief executive Keith Williams will join the Pavement board.
Pavement managing director Andy Evans, who will retain the remaining shareholding, hopes the investment will strengthen and develop the firm's Blu-ray, DVD, online, mobile and production services by providing more kit, staff and resources.
He said: “Our collaboration with Goldcrest ensures we can grow at the demanding pace necessary to provide customers with the culture, quality and creativity for which we have become well known. We can now more comfortably and strategically invest money in R&D areas such as BD-Live and iPhone without impacting too much on the day-to-day operation.”
The Pavement also plans to take space in Goldcrest's New York facility later this year.
It will not be the first time that Evans and Williams have worked together. The pair were at TVI, where, in 1998, they founded Stream, one of the first DVD facilities in the UK.