By Staff writer
Carlyle said to be close to selling The Foundry, which worked on blockbusters such as Gravity and Guardians of the Galaxy
The Carlyle Group, the US private equity firm in which Abu Dhabi’s Mubadala Development Company owns a 7.5 percent stake, is reportedly set to sell London-based movie special effects company The Foundry, which has worked on blockbusters such as Gravity and Guardians of the Galaxy, for around £200 million ($305 million).
The Washington DC-based firm has appointed advisers Arma Partners last year to find new investors and American technology giant Adobe has is believed to have made an offer.
The Foundry employs around 370 people in London, Manchester, Shanghai, Redwood City and Los Angeles and is expected sell for £200 million, marking a profit of around £125 million in just three years for Carlyle, which bought it in 2011.
The Foundry is expected to employ around a hundred people in offices in the UK and US within the next year, the reports added.
The British firm specialises in movie special effects and has been used in blockbusters such as Gravity, Avatar, Guardians of the Galaxy and the Twilight series.
Carlyle Group was founded in 1987. Abu Dhabi wealth fund Mubadala bought a 7.5 percent stake the company in 2007.