CAA Owner TPG Capital Acquires Payroll Company Entertainment Partners
Entertainment Partners, a leading payroll company for the entertainment industry, announced Tuesday it reached an agreement to be acquired by TPG Capital, the private equity platform of global alternative asset firm TPG, which is also a majority owner of talent agency CAA.
“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.
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“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.”
Employee-owned EP has a client roster that includes several major studios and production companies in Hollywood.
Terms of the deal were not disclosed.
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