Harbottle & Lewis has advised the majority shareholders in Sargent-Disc Ltd and its associated companies on a sale to LA-based entertainment payroll, software and solutions provider Cast & Crew.
The acquisition will embolden Cast & Crew’s presence in the UK and globally with the Group’s expanded portfolio.
The Harbottle & Lewis team worked alongside corporate finance advisors Altera Corporate Finance, who ran the bidding process which ultimately led to the sale. Cast & Crew was represented by Latham & Watkins.
Since its inception in 1986, the family-owned Sargent-Disc group has worked with production clients of all shapes and sizes, from the Big Five majors, to revered British film studios such as Pinewood Studios and a host of independent production houses.
Brother-and-sister duo, Lara and Laurence Sargent, took over the reins in 2008. Since then, they have upheld and strengthened the business’s reputation as the go-to payroll and accounting specialist servicing the entertainment industries.
The Sargent-Disc brand will continue in its current form with Lara and Laurence staying on to deliver their wealth of knowledge and connections.
Lara Sargent said: “We are delighted to be joining forces with Cast & Crew. Their payroll, digital products and residuals have been at the forefront of industry innovation and we are looking forward to driving the international expansion of Cast & Crew.”
Laurence Sargent added: “Our ethos and strategies are well aligned, and this deal provides us with an opportunity to better support the needs of our clients through the complexities of international production.”
Harbottle & Lewis’ longstanding relationship with Sargent-Disc and its in-depth knowledge and experience advising clients in the media and entertainment sectors meant it was well placed to provide a cohesive approach.
A cross-departmental team at Harbottle & Lewis provided coordinated advice across its Corporate, Tax, Private Capital, Employment, Property, Film and Television, and Data teams.
Colin Howes, Corporate partner at Harbottle & Lewis, commented: “We are delighted to have advised Lara and Laurence on this multi-faceted, complex sale.
“Our position as long-standing advisers to the business enabled us to advise on all aspects of the deal; it was truly a team effort involving cooperation and coordination across the firm, pulling on expertise from several groups.
“We are delighted to see the outcome, with the existing business ready to leverage its offering to UK production companies using the resources this combination makes available to Laurence and Lara.”
Speaking on working with Harbottle & Lewis, Lara Sargent said: “Colin and the whole team at Harbottle & Lewis have been a pleasure to work with. They have gone above and beyond in helping us to achieve a successful conclusion to a deal that is pivotal to Sargent-Disc’s future strategy.”