The Foundry, developer of visual effects plug-ins and the full suite Nuke, has announced a management buyout for an undisclosed sum led by Advent Venture Partners.
The Foundry, whose visual effects are behind many a Hollywood blockbuster, is reportedly highly profitable and has more than doubled revenues in the last eighteen months to $10m.
Advent's support will permit the company to continue expansion plans that have seen staff numbers more than double from 20 to over 50 in the past two years. The Foundry recently took over two additional floors of its Wardour Street, London headquarters due to expansion.
The Foundry software portfolio includes Nuke, a high-end compositing system and Furnace, a collection of problem solving tools based on advanced motion estimation technology.
The Foundry's products are behind explosive scenes in recent films including The Dark Knight, Star Trek, Watchmen, X-Men Origins: Wolverine and many others.
Advent has backed The Foundry's management team, led by CEO Dr Bill Collis and the original founders, in a transaction that sees the sale of the shareholdings of previous investors Wyndcrest Holdings.
"The Foundry is renowned for responding to user need and developing useful tools that boost productivity. With the backing of our previous investors, we enjoyed substantial growth and are now in a strong position to take the business forward with our new partners," said Dr Collis in a press release.
"We are ready to realise our further ambitions for Nuke and the rest of our product portfolio, ensuring the company goes from strength to strength whilst maintaining strong customer focus."