Los Angeles (September 27, 2013) — Clear Capital Advisors has announced that it has served as exclusive financial advisor to LAC Group (“LAC”) in its acquisition from the Eastman Kodak Company of PRO-TEK, the company’s film preservation business specializing in archival storage, film inspection and repair, and library services for high-value moving image and still photography.
As a leader in information and knowledge management, LAC Group will integrate PRO-TEK’s unique value proposition as a film and data storage provider into the company’s vision of end-to-end information and physical media asset offerings.
Founded in 1986 as Library Associates, Inc., LAC Group serves a variety of markets including government agencies, law firms, university libraries and Fortune 500 companies. LAC also manages a large archive of entertainment, broadcast, media and news libraries so it is well positioned to pursue further opportunities to extend the PRO-TEK brand and service offering into adjacent markets and territories.
LAC Group intends to continue to use and build the PRO-TEK brand for its physical asset storage and archival solution offering. PRO-TEK also offers value-added archival services such as image scanning, inspection, metadata creation and critical archival managed services that complement LAC’s core portfolio.
“Superior asset management is absolutely critical – especially for an industry that generates such high value assets,” said Rob Corrao, LAC’s Chief Operating Officer. “We all look forward to continuing to serve the customers of PRO-TEK, who can be assured that their assets are as safe and stable as they always have been. The Clear Capital Advisors team provided valuable assistance throughout the process, including due diligence and negotiation. Their advice helped facilitate the transaction and bring it to a successful close.”
“This is an important acquisition for LAC Group as it bolsters its position in the media services sector and expands the range of services it is able to offer clients with vast content libraries,” commented Bruce Pompan, Managing Director of Clear Capital Advisors. “This acquisition will accelerate LAC Group’s growth and broaden its client base in the media sector.
“Kodak is very pleased to put PRO-TEK in the hands of an industry leader like LAC that will continue to provide a high level of service to our customers,” said Andrew R. Evenski, President of Kodak’s Entertainment Imaging business. “Kodak will continue to focus on producing motion picture film – the best archival capture medium available.”
“We are looking forward to welcoming PRO-TEK to the LAC family,” said Deborah Schwarz, LAC’s Chief Executive Officer. “Preservation of moving image and still photography content is a vital issue for the entertainment industry, as well as for corporations, government agencies and the professional services industry.”
About Clear Capital Advisors
Clear Capital Advisors is an investment advisory firm focused on providing mergers and acquisitions advisory and capital raising services to select business services, digital media, healthcare, and technology companies. Securities offered through Fallbrook Capital Securities Corp., Member FINRA – SIPC. For more information, visit www.ClearCapitalAdvisors.com.