Ribbonlift's patented lift equipment is used to position cameras, lights, projectors, communication devices and more for motion picture shoots, live events, construction, industrial, military and other applications. Based in Owatonna, Minnesota, its clients include Walt Disney Imagineering, Smithsonian National Air and Space Museum, U.S. Department of Homeland Security and U.S. Department of Defense.
Founded in 1998, all employees of Ribbonlift are expected to remain with the new company in Owatonna - a wholly owned subsidiary of Imagility - while certain corporate functions such as finance and strategic business development will be managed from Imagility's Los Angeles headquarters.
Dave Paine, Ribbonlift's founder, will serve as the company's president. "Imagility will provide the boost that Ribbonlift needs to reach a new level of success including growth capital and strategic business development of new markets where our technology can generate added value," Paine said. "I am confident we can build Ribbonlift into the country's premiere application- specific lift technology company."
Eric Golden, Imagility's president and CEO, said "Ribbonlift has designed the most innovative lift technology available today. With reinforced product and market development, I believe Ribbonlift will rapidly gain share of the entertainment markets already serviced by our other operating companies such as motion picture and television production, live events and entertainment venues, as well as diverse industrial applications. We are excited by the business's growth potential and its fit with Lightning Strikes, and we welcome the Ribbonlift team to the Imagility family."
Founded in January 2005, Imagility is a holding company that invests in small or middle-market companies with industry-leading products, including lighting equipment, specialty cameras, camera support systems, and related accessories. Imagility also seeks to acquire imaging and illumination technologies through licenses or joint ventures. Imagility's first acquisitions, completed in June of 2005, were Lightning Strikes and American Theatre Products Company .
(Chris Henry)
