UK-based Milk Visual Effects has received £2 million in investment from BGF (Business Growth Fund). The company creates complex visual effects for high-end television and feature films.
Milk Visual Effects was founded in 2013, and now employs 150 staff at its locations in London and Cardiff. The studio has won multiple awards for its creative work, including three consecutive BAFTA Television Craft awards for Doctor Who (in 2014 and 2015) and critically acclaimed BBC drama Jonathan Strange & Mr Norrell (in 2016). Milk won an Emmy in 2016 for its work on the BBC drama Sherlock, and in 2016 co-founder Sara Bennett won an Oscar for her work on the film Ex-Machina.
The company says it will use the funding to expand its studios, invest in new technical equipment and R&D, and hire more talent. It says this will increase its capacity to work with some of the world’s leading feature film, high-end television and digital content producers such as Warner Bros., the BBC and Netflix.
“Our new partnership with BGF and the appointment of Ivan Dunleavy as chairman will help us to deliver the most challenging and creative visual effects work for the global feature film, high end television and emerging digital content markets," explained Milk’s CEO, Will Cohen. "We look forward to building on our success over the last four years - which is testament to the dedication and expertise of our team at Milk. It’s a wonderful way to begin our fifth year in business.”
“We are delighted to back Milk in their quest to create an independent visual effects business of scale," added Gavin Petken, regional director at BGF. "Will and the team have an outstanding reputation for delivering innovative, ground breaking visual effects and have cultivated valuable and strategic commercial relationships. They have scaled the business well, and we are excited to see our investment help accelerate their growth even further.”
Read more: Private Equity Wire (Press release)