Laservision is a leading designer and producer of multimedia entertainment attractions creating sensory experiences. “ We harness the power of light, water, fire and other high impact mediums to evoke the senses, immerse audiences in the experience creating enduring memories,” says Shannon Brooks, CEO at Laservision.
Established in 1984, Laservision‘s corporate office is located in Dural, New South Wales with satellite offices established in Singapore, Hong Kong, Macau and Dubai. Laservision offers a complete suite of services and products including conceptual development, creative production, technical engineering, research and development, project management, operational and maintenance support services.
Laservision has received several business and export awards for its work in developing permanent and special events across 27 countries.
“Around 95% of our business is export,” says Paul McCloskey, Founder of Laservision, “as the markets overseas are more mature and have higher demand for our services.”
Some of Laservision’s most high-profile projects include the ‘Wonder Full’ spectacular at the Marina Bay Sands resort in Singapore, the Symphony of Lights over Hong Kong’s Victoria Harbour and the Pearl of Sochi in Russia’s Mandarin Mall.
A large contract in Dubai
Laservision was awarded a significant contract with a Dubai-based retail development company to design and install a permanent multi-media attraction, as part of one of its flagship stores’ redevelopment.
The project had been developed over several years, with Laservision initially being engaged by the company to develop the initial concept, and then winning the contract by tender against three other companies.
“We’ve completed contracts in the Middle East previously and with our experience and technical expertise, there are very few competitors that can replicate or operate the attractions we’ve developed,” says Paul.
While Laservision’s bank continues to be supportive of its growth overseas, it wasn’t able to provide the working capital and bonding that Laservision needed to deliver on this high-profile contract.
“Although this was a great opportunity for our company,” says Paul, “it wasn’t a comfortable fit for our bank’s risk profile, and so we contacted Efic to see if it could help.”
“I’d known about Efic for quite a while, but never had the need to go to them until now.”
How we helped
In partnership with Laservision’s bank, we helped to create a multi-option finance package that allowed Laservision to secure the contract.
“Efic were an absolute delight to work with,” says Paul, “if we hadn’t got the help from Efic, we probably would have walked away from this opportunity due to its unconventional structure.”
Our Export Working Capital Guarantee allowed Laservision’s bank to approve the finance needed to cover the upfront production costs of the installation.
The retail development company also required a performance bond to guarantee the contract’s delivery, which we provided on behalf of Laservision.
“Delivering on this high-profile contract means that Laservision is now the only company to have the largest lightshows running on three continents,” says Paul.
And with a strong pipeline of contracts already secured for the next 12 months, the future looks positive for this innovative Australian exporter.
“Demand for our services continues to outstrip our ability to provide them,” adds Paul, “so our future is looking very bright.”
“It’s great to be invited to the best parties in the world, and get paid for it.”