Connection Capital, the specialist private client alternative investments business, has completed a £5.1m growth capital investment in Brompton Technology, an award-winning designer and manufacturer of leading-edge processing products for LED video walls used in live events and virtual production for TV and film. The London-based company has end-users across the globe, and offices in Los Angeles, Shenzhen and Taipei.
Brompton Technology’s products are used on global music tours of artists like Taylor Swift and U2, and in the filming of High end TV and film productions such as Disney+ series The Mandalorian.
Growth capital will enable the company to meet soaring demand and further build on its industry-leading technology.
Brompton Technology’s specialist technology is used to generate seamless, high-quality images across multiple large LED panels that are used as the stage backdrop for live music acts or at sporting events and are increasingly taking the place of green screens as a virtual backdrop on TV and film sets.
The investment will enable Brompton Technology to capitalise on significant growth opportunities ahead. Demand for its products is extremely high with growing markets globally.
Established in 2011, the company is a market leader in supplying products designed for use in the live events market. Its products have been used on the global tours of major music artists such as Taylor Swift, U2, Roger Waters and many others. This segment is rebounding strongly as live events resume post pandemic.
When live events ceased during Covid-19 lockdowns, Brompton Technology rapidly pivoted its model to also focus on TV and film production and it is now the market leader in virtual production technology globally. Using LED screens to display a backdrop allows for a more immersive acting environment than a traditional green screen, delivers cost savings compared to shooting on location, reduces post-production work and allows production companies to shoot in a Covid-safe and environmentally conscious manner without disruption or need to travel.
A good example of this pioneering ‘virtual’ approach is the Disney+ Star Wars series ‘The Mandalorian’ and more recent spin-offs, which were filmed entirely in a studio despite featuring sweeping desert and other landscapes. Growth in this market is being fuelled by high demand for content from streaming services such as Netflix, Apple, Amazon and Disney+ as they compete for subscribers.
As part of Connection Capital’s investment a highly experienced Non Executive Chairman, Neil Gaydon, will also join the board. Neil has a track record of successfully developing technology-based companies akin to Brompton. Neil’s executive career includes CEO of Pace plc from 2006-2011, during which time Pace became the world’s largest provider of digital TV technologies to the Pay TV industry and CEO of SMART Technologies from 2012-2017, a Canadian, leading global education company with over 70m teachers and students utilizing its technology. In his Non-Executive career Neil has held a number of Chairman roles for companies backed by Close Brothers Private Equity, Intermediate Capital Group and Endless LLP.
Miles Otway, Partner at Connection Capital comments, “Brompton Technology is an excellent example of a successful business that pivoted, almost overnight, into other areas during the pandemic and is now emerging even stronger than before.”
“With its industry-leading technology, diversified revenue streams, talented management team and soaring demand for its products, Brompton Technology has a very compelling growth story that has really appealed to our private investor clients.”
“Brompton has been very nimble and resilient in the face of Pandemic related adversity, and it has done incredibly well to turn this into an opportunity. Strong, dynamic, innovative UK businesses like this are crying out for supportive funders and we are delighted to have completed this investment .”
Richard Mead, CEO of Brompton Technology, said “We are fortunate to be in a leadership position in a rapidly growing market. This investment will enable us to scale up to take full advantage of the opportunities this presents and we are excited to start a new phase of our journey with support from Connection Capital.”
About Connection Capital
Connection Capital LLP is specialist syndicator of investment funds from private professional investors into direct private equity, private debt and commercial property deals, as well as alternative asset funds. It currently has some £400 million of funds under management across a diverse portfolio. Connection Capital provides a specialist managed service to help professional clients build up their own alternative asset portfolios. Private investors self-select which opportunities they want to take a stake in. Opportunities are identified and negotiated by Connection Capital, which also carries out all due diligence and manages the investment from completion through to exit, on its clients’ behalf. Connection Capital is authorised and regulated by the Financial Conduct Authority.
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Advisors to Brompton Technology:
Lead Corporate Finance Advisory – BDO
Legal advice – Osborne Clarke
Advisors to Connection Capital:
Legal advice and LDD – Gateley Legal
FDD - HMT
CDD – Plural Strategy
MDD – Confidas People
Insurance DD – Vista Insurance Brokers
Executive Search – Directorbank