Matthews Agrees to Buy Grip, Lighting Assets

Matthews Studio Equipment Group, a Burbank provider of production equipment to the movie and television industries, said it tentatively agreed to buy the operating assets of Uva Grip Truck and Lighting Service in Valencia for about $500,000.

The assets include several five-ton grip and electrical trucks and lighting and grip equipment, Matthews said. The equipment is particularly suited to the production of TV commercials, and so provides Matthews with the ability to increase its presence in that market, the company said.

Matthews said that the acquisition would be made by its Hollywood Rental Co. unit and that the deal is subject to Matthew’s previously announced plans to raise additional cash through borrowings.