Kartesia provides credit facility to Novum Capital-backed MMC
Kartesia, the European specialist provider of capital solutions for small and mid-sized companies, is pleased to announce that it has provided a financing solution to German film studio operator MMC (“the Company”) for its recent dividend recapitalisation.
MMC operates the Coloneum in Cologne, one of Europe’s largest and most advanced studio lots with 20 TV studios and soundstages. At the 1,700,000 ft2 Coloneum facility, producers and broadcasters find the perfect combination of location and services for productions of all kinds and sizes. Through its excellent infrastructure, state-of-the-art production technology, highly efficient post-production, superb art department for set design and construction, and its experienced staff, the Company is the leading full-service provider for entertainment shows and TV series in Germany. Furthermore, MMC produces feature films with national and international stars and a wide range of company events and trade shows.
MMC is backed by Novum Capital (“Novum”), a specialist investor in German and other European small and medium-sized companies. Novum acquired MMC in 2019 and combined the business with Crosscast, a broadcast company and esports specialist, later that year.
Kartesia has provided a unitranche loan to facilitate the payment of a dividend for MMC shareholders and to support its continued growth. The capital was deployed from Kartesia’s Senior Opportunities fund (KSO I), which has now made 3 investments in the German market. The deal team at Kartesia comprised of Thomas Pöhler and Niclas Paulin.
Thomas Pöhler, Kartesia’s Head of Germany, commented: “We are delighted to announce this financing package for MMC, an established firm with the infrastructure and expertise to continue to increase its market share as a full-service provider for the TV and entertainment industry in Germany. It was a pleasure to work with an experienced sponsor like Novum Capital, whose knowledge of the sector and impressive track record gave us full confidence to participate in this recapitalisation.”