Molinare has acquired the post-production division of Hoxton-based VET.
The deal, which closed yesterday afternoon, is part of Molinare’s ongoing plan to grow through acquisition and will give the post firm a presence outside Soho for the first time.
VET is based in the Lux Building on Hoxton Square in east London. It offers training for editors and technical staff as well as courses for producers and managers.
It also has a 5,000 sq ft post-production operation of offline and online suites, a DaVinci Resolve-equipped grading suite, a dubbing theatre and a sound booth.
VET’s post-production credits include Rachel’s Coastal Cooking for RTE/Good Food, I’m Spazticus for Channel 4 as well as features and commercials.
Molinare managing director Julie Parmenter said: “This opportunity offers a platform from which to grow our services in the Shoreditch and Hoxton area.
“The move is part of Molinare’s business plan for growth and enables us to provide our expanded services to existing and potential clients in the very dynamic Shoreditch region.
“We are delighted to welcome the team into the Molinare family and look forward to introducing clients to our Hoxton base.”
Current VET director Ellie Stanway will continue to head up the facility, which will be known as Molinare Hoxton.
Six other staff, including editors, broadcast engineers, sound assistants and bookings staff will join Molinare as part of the deal.
Molinare plans to add more offline suites, install a central storage system and upgrade the facility’s audio and grading suites.
VET’s Pat Horridge and Joan Leese will work with Stanway and the Molinare team during the transition to its new owners. Leese and Horridge will continue to offer training and consultation under the banner of VET Training, while VET Production will continue under the direction of Leese.
In July, Dean MacKenzie, partner at venture capitalist Next Wave Partners which was part of the consortium that bought Molinare in a pre-pack administration deal in 2012, told Broadcast about the private equity firm’s aggressive plans to grow the business through acquisition.