The Soho facility was put into administration on 2 July but an immediate deal was agreed with administrator Baker Tilly for the company to be sold outright to Partner Capital and the Megginson group.
The two partners created a new business called Pepper Post 2008 Ltd. It is likely that they will own the company on a joint and equal basis, although the details are still being worked out.
There are no job losses and the management of the facility remains in place to be supplemented with a new management team.
Individual roles have yet to be confirmed but Megginson is likely to split the chairmanship with Partner's Richard Simpson. Partner Capital's Diarmid Ogilvy is expected to become finance director.
The original joint managing directors, Patrick Holzen and Shane Warden, will remain part of the management team, but their titles may change.
Megginson said: “Patrick will retain a client-facing role with Shane continuing to work in a technical capacity.”
Megginson, who has a history in film finance, denied there was an exit strategy as is usual with venture capitalists: “This will be a long-term arrangement, there is no time frame in which to return a profit, we are passionate about film and TV.”
He added that “the move has seen an injection of capital and expertise”, in what is Partner Capital's first media investment.
This development ends weeks of speculation about the future of Pepper. However, some suppliers are questioning what will happen to any unpaid debts from the old company.
One supplier told Broadcast: “We are owed a substantial sum of money. In the end it is the smaller companies and freelancers who take the hit in these circumstances.”
However, Megginson countered this: “All freelancers will be paid and we're looking, with the administrator, at the position of all other creditors.”
It is believed several factors contributed to recent events. As a result of UK tax changes, a number of films that the company had budgeted to work on following the joint-venture with producer and financier Future Film were delayed.
However, Future and Pepper will continue to jointly offer funding and finishing for features, meaning the strategic relationship between the partners will continue as before.
In addition, it is thought that the company was unable to obtain credit as a result of the current financial climate.
Pepper worked on the online and grade for dramas such as BBC1's Life on Mars and Waking the Dead and Sky One's The Colour of Magic.