The Mill has outlined plans for further international growth following its sale to Barclays Private Equity in a deal that values the business at £119m.
Chief executive Robin Shenfield emphasised the firm’s desire to continue to provide VFX for television.
“The climate for high-end VFX for TV drama is very good and it is a real focus for us,” he said. “I am confident that the film and TV unit will grow.”
Shenfield outlined plans to expand The Mill’s US business, with the company planning to triple the size of its Los Angeles operation by moving to new premises in July.
“The move will give us the opportunity to add telecine and colour grading, and build up the CG team and do things we are currently doing in London and New York, which might be applicable in Los Angeles. Marketing materials around games is one area, creating ads, trailers and in-game cinematics.”
Earlier this week, The Mill opened an office in Singapore. Shenfield cited ad spend as the reason for the push into emerging markets. “ZenithOptimedia’s March forecast shows global ad spend increasing by 4.2% this year, and in Latin America and Asia, that figure will be 6.5% and 7% respectively.
In 2012, China will be the third-largest ad market and Brazil sixth, so these are markets you ignore at your peril,” he said.
Shenfield said the LA growth and expansion into Asia and Latin America would be “adequately resourced”.
The Mill was previously owned by private equity firm Carlyle, which acquired a majority stake in the company in 2007.
Shenfield and co-founder and chief creative officer Pat Joseph remain with the company and continue to have a “substantial” minority stake in the business.