Mayfair Equity Partners exits Pixomondo through sale to Sony Pictures

Mayfair Equity Partners, a dedicated technology and consumer investor, has sold Pixomondo, an Oscar and Emmy award-winning virtual production, visualisation and VFX company, to Sony Pictures Entertainment (SPE), a subsidiary of Tokyo-based Sony Group Corporation.

Financial terms of the deal have not been disclosed.

PXO, which is known for its work on premium content including Sony Pictures Television’s The Boys, as well as Game of Thrones, House of the Dragon, and the upcoming Avatar: The Last Airbender, maintains three LED sound stages and seven offices in the US, UK, Germany, and Canada.

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PXO will continue to be led by CEO Jonny Slow, who will report into Ravi Ahuja, Chairman of Global TV Studios and SPE Corporate Development. Under the deal, SPE has acquired 100% of PXO, a pioneer in virtual production and visual effects since it was established 21 years ago.

Mayfair invested in PXO in July 2018 to support the transformation of the Company from a post-production VFX provider to a tech-enabled production services business with integrated workflows. Through the expansion of its visual effects team and development of new VFX technologies, PXO has been able to provide clients a broader range of high-quality services, earlier in the development cycle through to post-production. Mayfair also provided additional investment to fund the development of PXO’s innovative virtual production capabilities and LED Stages, which have established PXO as one of the leading virtual production companies in the world.

The Raine Group served as the financial advisor to PXO, and Goodwin Procter LLP served as their legal counsel. Hogan Lovells LLP was legal counsel for SPE.

Source: Private Equity Wire

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