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BGF exits digital cinema specialist following new $80m investment

BGF, the largest and most experienced growth capital investor in the UK and Ireland, has announced its successful exit from investment in Unique X, a leading provider of digital cinema software solutions and services.

The Manchester-based business has secured new investment of up to $80 million from Kartesia, a European provider of capital solutions for SME companies.

BGF originally backed Unique X in December 2018 with a $19 million investment to enable the business to invest in new technologies, expand its suite of products and grow its customer base globally.

During BGF’s investment partnership, the business has successfully scaled, nearly trebling EBITDA from the point of investment to exit. The deal provides a successful exit in full for BGF.

Spencer Woods, investor at BGF, said: “Unique X has proved incredibly resilient and delivered strong growth over the last six years. During this time the company has expanded its delivery network, developed leading technologies and won significant new contracts globally.

“We’re proud to have supported the company on this phase of their growth journey. It’s another great example of the strength of BGF’s investment model which allows us to form long-term, minority-led partnerships with ambitious businesses and management teams looking to scale. This exit has delivered a strong return on our investment, and we wish the business all the best on the next stage of their journey.”

Unique X founder Chris Hagan said: “BGF has provided valuable support as the company has scaled over the last six years. I am delighted to begin the next chapter in our global ambitions to continue our strategic partnerships with both new and existing customers throughout the cinema channel and build on the success we’ve had to date.”

Unique X’s software is currently deployed in 42,000 cinema screens across 90+ countries. Every year, the Company delivers over 200,000 movies and 1.1 billion advertising spots worldwide. Unique X’s end-to-end solution digitises cinema management, with SaaS modules enabling centralised control over every aspect of film exhibition.

The new investment from Kartesia will act as a further catalyst to Unique X’s continued ambition for global expansion. This will include the launch of new products and technologies, with significant growth into new territories.

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