Entertainment Partners Acquires Production Payment and Expenses Platform CASHét

As seen on The Wrap.

Production payroll company Entertainment Partners has acquired the digital payment platform CASHét, expanding its suite of production accounting services.

CASHét’s platform—which Entertainment Partners says is used on over 2,500 studio and independent productions annually—provides secure digital purchasing cards, automated accounts payable payments and built-in fraud prevention tools.

CASHét has been integrated into accounting systems created both by Entertainment Partners and its competitors, and the company says that it will still be available for use by all productions regardless of their payroll or accounting platforms as it plans to expand its core services outside of North America and offer them to productions in other international filming hubs.

“CASHét has built an innovative digital payment platform that is trusted across the industry,” Markham L. Goldstein, EP president & CEO, said in a statement. “Bringing CASHét into our ecosystem will allow us to provide productions with an unmatched, fully integrated, end-to-end financial solution.”

“Joining forces with Entertainment Partners marks an exciting new chapter for CASHét. With EP’s global reach, financial strength and industry expertise, we have an opportunity to expand our efficient payment solutions to more markets worldwide,” Paul Rogers, president of CASHét, said. “Our shared commitment to innovation and integrity in financial workflows will drive even greater value for productions of all sizes, no matter where they are creating content.”

Centerview Partners LLC acted as EP’s financial advisor in connection with the transaction. Ropes & Gray LLP and Moulton | Moore | Stella LLP acted as EP’s legal advisors. William Blair acted as the financial advisor to CASHét and Paul Hastings, LLP as its legal counsel.