Fineline Media Finance, has provided significant funding to enable UK broadcast solutions provider Cloudbass continue its current level of growth. As well as purchasing new camera chains and cabling for its outside broadcast arm, the deal also qualified for 20% Regional Growth Fund (RGF) funding thanks to the creation of four new full-time positions at the company.
Cloudbass was formed in 2002 and after a long period of steady growth its expansion has accelerated recently. In 2012 it acquired significant assets of Arqiva Outside Broadcast enhancing its HD fleet, and has also recently set up Cloudbass Graphics as a dedicated division based at Pinewood Studios.
The new equipment -- 4x Sony PMW-500 Cameras, Canon Lenses & Accessories supplied by CVP; SMPTE Cabling supplied by WTS -- will help the company continue the program of investment in trucks and equipment that is required to support the higher profile contracts it is now tendering for. Recent Outside Broadcast projects include the Skrill Premiership and Womens Super League coverage for BT Sport, ITVs BTCC coverage including full RF facilities of which the new kit forms a part, continuing coverage of BBCs Question Time, as well as being at 192 Premiership Football matches for Premier League Productions.
Steve Knee, Managing Director, Cloudbass, said, Up until three years ago we had never financed anything, always buying in cash or hiring additional kit. However, comparing the cost of hiring versus financing a purchase, it now makes much more sense to buy the equipment, particularly as we are confident that it will open doors to bigger contracts. Fineline has been one of the main finance houses that has enabled us to leverage growth that has seen us double in size three times in as many years.
With growth already leading to 16 new positions being created by the company in the past year and more required, bringing forward planned job creation - thus securing the maximum level of Regional Growth Fund funding permissible under the scheme - made perfect sense for the company. Furthermore, the increased level of deposit position this conferred also enabled Fineline to fund less standard assets via the deal, such as cabling, which is traditionally avoided by asset funders but is a crucial part of OB operation.
Steve added, The Fineline team understands where we are going as a company and what we want to achieve. They understand the nature of the business and are very quick to react, going the extra mile whenever required.
Full details of eligibility can be found at http://www.fineline.co.uk/finance-products/regional-growth-fund Those interested can contact Fineline Media Finance on 020 8334 2100 or email firstname.lastname@example.org