Matthews Studio to Buy Assets of Chicago Firm
Matthews Studio Equipment Group, a Burbank supplier of lighting and other production equipment to the entertainment industry, said it has agreed to acquire all of the outstanding stock and operating rental assets of Studio Rentals Inc.
The purchase price is $3.5 million in cash and restricted common shares.
Chicago-based Studio Rentals has one of the largest film studio and production rental equipment facilities east of Hollywood, Matthews said. The acquisition reflects Matthews’ objective of providing local service in production areas nationwide and throughout the world.
Matthews said the deal is expected to be completed in about 45 days.
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