Friday, June 17, 2016
Cast & Crew Entertainment Services Buys CAPS Payroll
Burbank-based Cast & Crew Entertainment Services, which provides payroll and production management services and technology to the entertainment industry, said it has acquired CAPS Payroll, a provider of payroll services for the commercial production, venues, music tours, live events, unscripted television and independent film markets. Financial terms of the acquisition were not announced, however, Cast & Crew said it is received "substantial additional equity" from its backer, private equity backer Silver Lake, as part of the buy. CAPS Payroll was based in Culver City. Cast & Crew said both of the companies have a focus on providing technology-enabled solutions to the market.