NewQuest Capital Partners has acquired a controlling interest in Cosmo-Maya from Emerald Media.
Backed by KKR, Emerald Media, a Pan-Asia leading global investment firm for investments in the media and entertainment sector, led by industry veterans Rajesh Kamat and Paul Aiello, had a controlling stake in Cosmos-Maya since 2018.
In an official statement, Cosmos-Maya CEO Anish Mehta said, “This is a new and interesting chapter for us as we look at larger markets and newer challenges. Emerald Media has been a great support in our growth story and now this investment from another great investor like NewQuest is a testament to our market leadership and strong operating performance. We are excited to bring NewQuest on board as we embark on our next growth phase to become a fully integrated, global animation production and distribution company. Their experience, network and industry knowledge will help supercharge our growth, organically and through strategic acquisitions.”
On asking about the new ownership and how it’s going to help the studio, exclusively told Animation Xpress, “We are planning major inorganic expansion by acquiring studios in India and North America.”
He also revealed, “Cosmos-Maya is expanding its studio in Bangalore, Kolkata, Pune, Vancouver and Los Angeles.”
NewQuest is the leading secondary private equity platform focused on the Asia-Pacific region. It is registered with the Hong Kong Securities and Futures Commission. The company currently manages four funds with aggregate capital commitments of approximately US$2.4 billion.
NewQuest partner and head of India and Southeast Asia Amit Gupta said, “Cosmos-Maya has been one of the most dynamic companies in this segment with a remarkable growth trajectory. With a portfolio of over 20 IPs and a highly talented team, we strongly believe that Cosmos-Maya is exceptionally well placed to consolidate its leadership position in the segment.”
Launched in 1996 by internationally acclaimed Indian filmmakers Ketan Mehta and Deepa Sahi, Cosmos-Maya focuses on creating IPs in the kids’ animation space and is presently working on multiple Indian animation TV series with all the leading linear and non-linear broadcasters. Motu Patlu, Selfie with Bajrangi, Titoo, Eena Meena Deeka, Dabangg among others are some of its flagship animation shows.
Cosmos-Maya founder and promoter Ketan Mehta said, “Cosmos-Maya has had a phenomenal journey of 25 years in animation and has grown by leaps and bounds during this period. The partnership with Emerald Media heralded a strong growth era for us. I am very happy that we are now getting a partner in NewQuest. The partnership marks yet another important chapter in the global journey of our studio, which is poised for accelerated growth,”
The terms of the deal haven’t been disclosed officially, however, according to Economic Times, two people with direct knowledge of the deal said that the transaction values Cosmos-Maya at over $90 million. KKR-backed Emerald Media, which had acquired the stake in January 2018, has exited with an estimated return of 3-4x on its preliminary funding.
GCA acted as exclusive Financial Advisor to Cosmos-Maya and its shareholders, SNG & Partners and Cyril AmarchandMangaldas acted as Legal Advisors and EY and BDO acted as Due Diligence and Transaction Tax advisors.
