Cinematography specialist RT Motion Systems Ltd sold to the VITEC Group PLC
The VITEC Group has acquired UK film camera equipment manufacturer RT Motion Systems in a deal managed by business sale advisor BCMS.
RTM was founded in 2009 by director of photography Kris Bird, steadicam operator Jamie Mullaney and writer/director Kerry Mullaney after discovering a lack of innovative and affordable options in the marketplace. Today the firm has 12 staff and sells their system worldwide.
The Vitec Group is an award-winning designer, manufacturer and supplier of equipment and services to the broadcasting, entertainment and photographic industries, with operations in 10 countries and c£400m annual global revenue.
Once a rare sight on set, wireless lens control has rapidly become an indispensable tool for camera departments shooting in fast-paced environments, and RTM’s product range is considered at the cutting edge of the industry.
RTM Co-founder Kris Bird said: “We have admired Vitec’s vision and breadth of expertise for some time, and are extremely excited to be joining the group alongside industry leaders such as Teradek and SmallHD. This acquisition will give us world-leading support in marketing, reseller channels and strategic management, allowing our technical team to double down on already ambitious R&D plans. We’re all really looking forward to this next chapter.”
Nicol Verheem, Head of Vitec Group’s Creative Solutions Business Unit, said “The film making innovations coming out of the UK are legendary, and RT Motion is another great example of an entrepreneurial company with ground breaking products. We collaborated with Kris and his team on the launch of their Latitude product, and now that they are part of the Vitec family, we will be able to work more deeply with them on the next generation of solutions for the film and entertainment industry.”
The seller was advised by M&A advisory firm BCMS and Continuum Corporate Lawyers LLP, and the deal value is up to £3.4m dependent on reaching integration and retention targets.
BCMS Lead Advisor Mark Lucas commented: “Kris and his team have repeatedly proved themselves very agile at designing and manufacturing innovative products to assist cinematographers around the world, so we were able to attract serious interest from several bidders. But the cultural fit with Vitec is a very close match, and we are delighted to have helped RTM find a new home.”