VSS Exits Minority Investment in Cast & Crew
August 12, 2015 – VSS, a private investment firm focused on the information, tech-enabled business services, healthcare IT, and education industries, announced that VSS Structured Capital II (“VSS SCII”) has sold its minority investment in Cast & Crew Entertainment Services (“Cast & Crew”) to Silver Lake. Cast & Crew is a leading provider of technology-enabled payroll processing, workers comp insurance and related services to the entertainment industry. The December 2012 investment was led by ZM Capital, and VSS SCII provided minority capital in support of the ZM Capital bid. VSS SCII was the largest investor and shareholder in Cast & Crew and served on the board, with various minority rights and controls. During the VSS investment period, the company grew significantly as Cast & Crew’s exceptional management team optimized technology spend and work process flows, and realized significant insurance efficiencies.
VSS has extensive expertise in the business services industry, including the human capital management (“HCM”) sector where we have invested in six HCM portfolio companies across VSS SCI and VSS SCII. ZM Capital has deep experience and contacts in the entertainment sector, and together our two firms were able to form a productive partnership which contributed to a highly successful result for Cast & Crew.