CAPS Universal, a Los Angeles, CA-based provider of payroll and benefits administration services to the entertainment industry, has received a “multi-million” dollar investment from private equity firm Uni-World Capital, L.P.
Prudential Capital Group, an affiliate of Prudential Financial, Inc. (NYSE: PRU), participated as a co-investor.
The recapitalization will facilitate the expansion of the company’s service offerings, entering new sectors and geographies, and enhance customer service. Following the transaction, CAPS Universal co-founders Howard Siegel and Eric Capogrosso will maintain sizable ownership stakes in the company, with Capogrosso remaining CEO.
Founded in 1991, CAPS Universal provides payroll and other Human Resources Outsourcing (HRO) services to the film, television, music, commercials, venues and live music segments of the entertainment industry.