Cinelease Acquires Grip and Lighting Gear From Quixote
Film equipment rental company Cinelease announced Tuesday it is acquiring grip and lighting equipment from Quixote.
Quixote Shrinks Operations
Quixote continues to reduce its business footprint amid a production slump. The company previously wound down its soundstage business in April and is now exiting the ancillary equipment market as well.
Staff Cuts Announced
The acquisition results in layoffs for approximately 60 Quixote employees, mostly located in Los Angeles. Cinelease also purchased Quixote's production supply assets and portable restrooms to expand its inventory.
Future Expansion Plans
Cinelease intends to grow beyond film and television by entering sports and live events markets. Chairman Louis Dargenzio stated the company will invest in capabilities to serve all these markets at a greater scale.
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