2015-038

The Carlyle Group Sell The Foundry to HgCapital

London, UK – Global alternative asset manager The Carlyle Group (NASDAQ: CG) today announced that it has sold The Foundry to HgCapital for an enterprise value of £200 million ($312 million USD).

The Foundry is a global provider of award-winning creative software. Headquartered in London and with offices in Manchester, Los Angeles, Shanghai and Silicon Valley, the company employs 270 people.

After making the initial investment in The Foundry in 2011 through Carlyle Europe Technology Partners II, Carlyle has worked with the management team to transform The Foundry from a pure visual effects software developer into a company supplying multiple creative industries such as product & industrial design, marketing & advertising and games. Revenues grew by over 160% during Carlyle’s ownership. 

Michael Wand, Managing Director and Head of the Carlyle Europe Technology team, said, “The Foundry is a leading example of Carlyle’s ability to create value. We have worked closely with the excellent management team to make substantial R&D investments, secure strategic customer partnerships and make targeted, IP- led acquisitions.  These all contributed to a broader market opportunity and new application areas for The Foundry’s products, creating multiple growth options for the company and underpinning strong revenue growth during the period of our investment. We are confident that The Foundry will enjoy sustained growth and wish the company and its management team continued success.”

Bill Collis, chief executive officer of The Foundry said, “The Carlyle Group has helped us expand The Foundry’s footprint, both in terms of the geographies and sectors we serve. We appreciate the guidance and support they’ve provided us and how they’ve positioned us to move onto this next phase of growth.”

The Foundry is the fourth successful exit for CETP II, a 2008 vintage fund.  Arma Partners acted as financial advisor and Travers Smith acted as legal advisor to The Foundry.

Notes to editors:

About The Foundry:

The Foundry develops award-winning creative software used globally by leading artists, designers and creative professionals. The portfolio lets users create inspiring and technical high-end visuals in the areas of Media Production (film, commercial, episodic, gaming and VR/AR), and Design (enterprise and creative), as well as participate in emerging high-growth markets such as 3D printing. The Foundry’s wholly owned subsidiary, Made With Mischief, develops simple, creative and accessible tools and applications that empower people to explore ideas and create. Clients include Pixar, ILM, Double Negative, The Moving Picture Company, Walt Disney Animation, Weta Digital, Framestore and Sony Pictures Imageworks.

In 2013, The Foundry’s CEO Bill Collis was recognized as the UK Technology winner for the Ernst & Young Entrepreneur of the Year award, and the company made the Sunday Times Tech Track 100 for the fourth consecutive year.

In 2015, the London Stock Exchange named The Foundry one of its “1000 Companies to Inspire Britain.”

About The Carlyle Group

The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $193 billion of assets under management across 130 funds and 156 fund of funds vehicles as of March 31, 2015. Carlyle's purpose is to invest wisely and create value on behalf of its investors, many of whom are public pensions. Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Market Strategies and Investment Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, real estate, technology & business services, telecommunications & media and transportation. The Carlyle Group employs more than 1,650 people in 40 offices across six continents.

Web: www.carlyle.com

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For more information, please contact:

The Carlyle Group
Catherine Armstrong
catherine.armstrong@carlyle.com
+44 (0)20 7894 1632

The Foundry
Colleen Krenzer
colleen.krenzer@thefoundry.co.uk
+44 (0)20 3298 0878

HgCapital
Maitland
Peter Ogden
pogden@maitland.co.uk
+44 (0) 20 7379 5151