LOS ANGELES (CelebrityAccess) TPG Capital, the private equity firm that is a majority owner of CAA, has reportedly reached an agreement to acquire Entertainment Partners, a leading payroll company for the entertainment industry.
Entertainment Partners has a client roster that includes several major studios and production companies in Los Angeles, according to Deadline Hollywood.
“We’re thrilled to have found a partner that is excited about our strategic vision as we support the evolution of the entertainment industry,” EP President and CEO Mark Goldstein said in a statement. “Through decades of hard work and dedication by our talented team, and through a rewarding collaboration with the experts – our clients – we have made great strides toward digitizing and integrating production workflow,” he added. “We now begin an exciting new chapter in which the significant resources and expertise of TPG will greatly accelerate our vision. We look forward to a productive long-term partnership that advances our opportunities to deliver phenomenal service to our clients.”
David Trujillo, Partner at TPG, added: “Our investment in Entertainment Partners is the culmination of years of work in the entertainment software and payroll technology industry. Entertainment Partners is the market leader in this sector and we are excited to partner with management on their client-first vision for the company.”
Investment firm EQT bought rival entertainment payroill specialist Cast & Crew Entertainment Services last year from Silver Lake.