On Sight has bought specialist hire firm Axis Films for an undisclosed sum, just hours after the Shepperton Studios based company was placed in administration.

Included in the deal are the business, its assets and the goodwill. All staff have been taken on and a deal has been negotiated with the landlord to continue the lease on Axis' premises.

Axis Films will become ‘an On Sight company' and continue as a separate venture trading under the name Axis Films (GB) Ltd, sharing resources and working jointly on projects.

“Axis has a successful camera hire business that has a strong name in new technologies such as Red, SI-2K and 3D capture,” said On Sight managing director Simon Craddock. “The combination of the two companies will allow On Sight to offer additional technical services to Axis clients that are working with these new formats”

Craddock continued: “The acquisition will allow both companies to continue to offer the same high level of service to their existing clients, whilst working together to deliver a more complete service where appropriate. We are also excited with the opportunity to extend the On Sight brand and services to Pinewood and Shepperton Studios.”

Axis Films appointed administrators Tenon Group on Tuesday 12 January. The decision was blamed on financial difficulties arising from the failure of a new post-production venture that is not included in the On Sight deal.

Craddock will become managing director of both companies. Axis Films' managing director Paul Carter will take up a new role as head of cameras within the group.