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Next Wave unpacks Molinare

Next Wave Partners has acquired UK post-production business Molinare out of pre-pack administration.

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Next Wave Partners has acquired UK post-production business Molinare out of pre-pack administration. Financial details were not disclosed, but the deal will safeguard 150 jobs. 

Molinare, a London-based post-production house, has worked on several high-profile film and television projects including Ridley Scott's Prometheus and the BBC's Silent Witness

Following the deal, Steve Milne, former chief executive of Molinare, returns as executive chairman joined by new managing director Julie Parmenter, former global head of sales of operations at Rolls-Royce Motor Cars. 

Jonathan Brod and Dean MacKenzie of Next Wave Partners will join the board of Molinare as non-executive directors. 

Macfarlanes, PwC and Davenport Lyons advised Next Wave on the deal. 

Film and TV production houses are becoming increasingly popular with the asset class. Last week, CapMan-backed Nice Entertainment group, which operates across the Nordic region, expanded further through the acquisition of Playroom. And in April last year, Equistone Partners Europe (then known as Barclays Private Equity) acquired The Mill from Carlyle