LOS ANGELES, Aug. 11, 2022 /PRNewswire/ -- Pacific Production Services, Inc. ("PPS"), founded in 1987, has attracted a meaningful new investment from Arena Investors, LP, Riveria Investment Group, and their affiliates. The partnership allows PPS and its wholly owned subsidiary, Pacific Traffic Control, to add to its suite of services for the film and television industry. The company supplies its customers with highly trained and skilled experts that handle a range of required regulatory and municipal permit coordination and services, including traffic and safety planning, design and staffing services.
This partnership provides PPS with the capital and expertise to act on the opportunity to fulfill the demand produced by the extraordinary growth in streaming service content, and the demand coming from the film and television industry. The investment allows PPS to pursue numerous organic growth opportunities from existing customers in its existing California market and new content production hotspots around the United States. The partnership will allow PPS to acquire and develop new technology, equipment and resources to enhance the company's coverage and maintain the first-class service our customers have come to rely upon.
Eric Nichols, President and CEO of PPS noted the firm is "extremely pleased to announce its new strategic partnership with Arena Investors and Riveria. This alliance will allow PPS to extend its considerable range of on location filming expertise, products, and services to a greater number of filming professionals, in a greater number of places."
Daniel Zwirn, CEO and CIO of Arena Investors stated, "The team at PPS has demonstrated a tremendous level of professionalism and has an excellent market reputation; its commitment to customers is among the best we have ever seen. As a direct result of its success to date, Arena has been pursuing a partnership with PPS and are now excited to announce this partnership. We will support the existing senior management team and employees and are looking forward to the future including developing new business lines, making software and technology enhancements and opening new markets."
About Pacific Production Services
PPS is the largest and most reputable film permitting agency in Los Angeles. We pride ourselves on our ability to simplify the permitting process while saving our clients time and money. The heart of our service is consultation: our coordinators get to know the needs of a project and can advise on budgets, timelines, and locations that fit a client's unique needs. Our clients include COLA and LMGI award winning location managers and location teams. We have worked on films, TV shows, commercials, music videos, and photo shoots that have gone on to win critic and audience awards around the globe. PPS has been a Gold Level sponsor of the COLAs since the beginning in 1995 and a Gold Level sponsor of the LMGIs since its inception in 2014. PPS also supports the Motion Picture Officers Association (MPOA). When it comes to film permits and traffic control expertise, PPS' quality of service is unmatched.
About Arena Investors
Arena is an institutional asset manager founded in partnership with The Westaim Corporation (TSXV: WED). With $3.6 billion of invested and committed assets under management as of August 1, 2022, and a team of over 100 employees in offices globally, Arena provides creative solutions for those seeking capital in special situations. The firm brings individuals with decades of experience, a track record of comfort with complexity, the ability to deliver within time constraints, and the flexibility to engage in transactions that cannot be addressed by banks and other conventional financial institutions. See www.arenaco.com for more information.
About Riveria Investment Group
Riveria Investment Group, headquartered in New York, NY, is a growth focused private equity firm that acquires and invests in middle-market companies based in the United States. Riveria primarily focuses on growing companies with a history of positive operating cash-flows and seeks transactions that present unique investment opportunities in industries experiencing significant growth. Riveria's private equity efforts emphasize growth and value-added strategies to generate strong returns. Riveria actively engages in the operations of portfolio companies by collaborating with management and implementing executive operating partners to grow its investments.
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SOURCE Arena Investors