Los Angeles-based family entertainment company PorchLight Entertainment has been acquired by its senior management and Beringea through Global Rights II, a media, brand and intellectual property rights fund.
"PorchLight Ent. has built up a library of high-quality, established properties, including JAY JAY THE JET PLANE on PBS KIDS and the Emmy Award-winning TUTENSTEIN, on Discovery Kids and NBC, plus a large catalog of feature films and a promising pipeline of new properties in development, said Malcolm Moss, senior managing director of Beringea. We feel confident the company is well positioned to continue its growth trajectory under the management team of Bruce Johnson and Bill Baumann, two industry professionals who maintain the highest production and animation standards."
Moss will join the PorchLight board of directors, along with Johnson, president, and Baumann, coo/cfo. PorchLight specializes in innovative, high-quality animation for television, movies and home video. In addition to JAY JAY and TUTENSTEIN, its notable work includes ADVENTURES FROM THE BOOK OF VIRTUES, and a collection of best-selling videos for LeapFrog.
This is a tremendously exciting development for PorchLight Ent., said Johnson. Our production, distribution and licensing businesses have been growing rapidly over the past few years, and this gives us an opportunity to continue to expand and grow, focusing on our existing branded properties, and adding more.
Given the excellent growth prospects available in family entertainment, its very advantageous for our company to be associated with Beringea and Malcolm Moss, added Baumann. Their expertise and experience will be invaluable to PorchLight.
The Global Rights Fund II invests in U.S. and U.K. media, content, brands, enabling technology and intellectual property rights. Global Rights II was formed in 2000 as a follow-on to Global Rights I Fund. The core investment philosophy behind the Fund is the exploitation of intellectual property rights across media platforms. With its global network and expertise in this sector, Beringea provides its portfolio companies with the experience and contacts needed to achieve success on a global basis.
Beringea, Llc. is an international private equity and investment banking firm. The firm is the manager of InvestCare Partners, a healthcare venture capital fund and Global Rights Fund II, a media, brands and intellectual property rights fund, among others. In addition, Beringea's investment banking clients include a number of local, national and multi-national organizations drawn from a broad spectrum of industries. For more information, visit www.beringea.com.
Founded in 1995, PorchLight Ent. (www.porchlight.com) is a multi-faceted company focused on the production and distribution of high-quality family entertainment. The companys distribution catalog consists of more than 100 feature films and 500 half-hours of series programming.