True Lens Services Limited (“TLS”) has successfully completed a management buyout led by Managing Director Gavin Whitehurst and Colin Sanders, acquiring the Company from Procam Television Holdings.
Foresight Group has backed the carve out of the Company and has provided further investment to support the international growth of TLS and new product development.
TLS is a world leading specialist lens re-houser and the global market leader for rehoused vintage lenses, bespoke lens innovation and servicing. TLS isrecognised worldwide for its lens innovation, with an unbeatable reputation in the design, manufacture and servicing of lenses.
TLS recently launched its new range of VEGA lenses which are now available for sale, and production will now be accelerated due to significant demand. VEGA lenses are high speed full-frame cine lenses that have an image circle of 46.3mm and so will full cover open gate on Venice, LF and even Monstro sensors. The core set are all T1.5 so ideal for low light environments or where a narrow depth of field is required. There is also a subtle fall off towards the edges as well as a smooth circular bokeh. TLS is currently seeking distributors for the VEGA range in the USA and Asia.
Other new rehousing’s include the Canon FDs where TLS can offer full sets of both the earlier SSC and NFD’s; these lenses cover full frame and with the change of iris the image produced is remarkably similar to a Canon K35. TLS also offers Zeiss B speed rehousing’s, these benefit from 300 degrees of focus rotation as well as a 95mm fixed front diameter. There is also the option of keeping the original triangular iris or swapping it out for a 15-blade circular one. Later this year the company will also be offering Mamiya 645 rehousings (with or without speed booster).
Established products such as the Canon K35, Cooke Speed Panchros and the Super Baltars will continue to be offered and supported.
Covid-19 has had a very limited impact on the Company and after a brief closure to implement safe working practices, the company was back to full activity in June supporting its global client base.
Gavin Whitehurst, Managing Director said “I am delighted to be able to lead the independent TLS on the next stage of its development, increasing our product range and broadening our international footprint. I am also very pleased to welcome David Turner and Richard Kilner who will be joining the Board as Non-Executive Directors.
The partnership with Foresight Group will allow us to accelerate our growth plans with further investment in our rehousing and servicing capabilities, increasing our global footprint (currently North America 26%, UK 37%, Europe 30% and RoW 7%) and accelerating the development of innovative products for our customers.”
David Turner and Hugh Minnock led the transaction for Foresight Group. David Turner, Investment Director at Foresight Group said “We are hugely excited to be partnering with Gavin Whitehurst and the wider TLS team on its next phase of growth. TLS has a market leading position in the global TV and film production sector with strong opportunities in rehousing, lens servicing and new products such as the Vega.”
About True Lens Services
True Lens Services was founded 19 years ago and provides a wealth of industry knowledge to meet the demands of high-end filmmakers and videographers by providing bespoke lens innovation and servicing. TLS is nowrecognised worldwide for its lens innovation, with an unbeatable reputation in the design, manufacture and servicing of lenses.
TLS can convert, service and repair film, broadcast and projection lenses from a wide variety of manufacturers. Whether it is updating vintage lenses to work with modern equipment, undertaking preventative maintenance or the repair of damaged or worn lenses, the design, test and setup equipment available at TLS allows our service engineers to quickly diagnose faults in order to rectify and return each lens to full working order with minimum inconvenience.
About Foresight Group
Foresight is a leading independent infrastructure and private equity investment manager which has been managing investment funds on behalf of institutions and retail clients for more than 35 years.
Foresight has over £6.5 billion of Assets Under Management across a number of funds, including Listed Vehicles, Limited Partnerships, Enterprise Investment Schemes (EISs), Venture Capital Trusts (VCTs) and Inheritance Tax Solutions using Business Relief (BR).