Granite Partners-backed Sim to be acquired by U.S. SPAC

Sim Video International Inc, a Toronto-based provider of solutions to the television and film industries, has agreed to be acquired by Saban Capital Acquisition Corp (Nasdaq: SCAC), a U.S. special purpose acquisition company (SPAC). The deal will see Sim combined with Woodland Hills, California-based Panavision Inc to create a provider of end-to-end production and post-production services to the entertainment sector. The transaction values the combined entity at US$622 million, including debt. Established in 1982, Sim is led by President and CEO James Haggarty. The company has been backed since 2013 by Canadian private equity firm Granite Partners.

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