GreenSlate’s Technology and Innovative Approach will continue to Transform Accounting, Payroll, Benefits and Tax Management for Entertainment Industry
VSS Capital Partners, a private investment firm that targets the healthcare, education, and tech-enabled business services industries, announced that it has realized its investment in GreenSlate Holdings, LLC, a leading cloud-based provider of payroll, production accounting, tax incentives and health benefits for the entertainment industry. While financial details of the transaction were not disclosed, VSS also re-invested in the Company alongside new investor Francisco Partners and GreenSlate’s management team.
“We could not be more proud of John Finn and the management team at GreenSlate and are thrilled to continue our partnership”
Founded in 2004, GreenSlate’s innovative all-in-one platform and integrated approach to production payroll and accounting have streamlined its clients’ ability to effectively manage the business of content production. In addition, GreenSlate provides remote, paperless and contact-free workflows in an all-in-one application that enables its clients to reduce their environmental impact and effectively navigate the complexities of workers’ compensation, union and related regulatory requirements.
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“GreenSlate has a laser focus on improving the client experience through both cutting edge technology and outstanding customer service and this transaction represents the beginning of an exciting new chapter in the Company’s history,” said Trent Hickman, a Managing Director at VSS, who will continue to serve on the board of GreenSlate.“We could not be more proud of John Finn and the management team at GreenSlate and are thrilled to continue our partnership,” he added.
“We would like to thank VSS for the transformative impact they have made in supporting GreenSlate’s growth as content production has soared over the past few years,” said John Finn, CEO and Founder of GreenSlate. “We have benefited from their strategic guidance and commitment to taking our business to the next level. We look forward to this next phase of our partnership.”
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The Company’s client base includes some of the world’s largest streaming services, studios, creative production companies and independent storytellers.
Following VSS’s investment in GreenSlate in 2018, the company undertook a number of initiatives to drive operational improvements, including the acceleration of its movement to an all-in-one integrated platform and strengthening its executive team. During VSS’s investment, the Company was selected as the exclusive payroll provider for numerous major production companies and was also named to the Inc. 5000 list on multiple occasions.
Under VSS’s ownership, GreenSlate’s EBITDA increased more than tenfold.
American Discovery Capital served as financial advisor to GreenSlate and Ropes & Gray LLP served as legal advisor to GreenSlate.
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