BlackRock (BLK) private credit division HPS Investment Partners and Oaktree Capital are among the creditors that seized control of production equipment supplier MBS Group last week, after the latter defaulted on its debt, the Financial Times reported Wednesday, citing unnamed sources familiar with the matter.

HPS, Oaktree and other creditors held hundreds of millions of debt that will be converted into MBS Group stakes as part of the transaction, according to the report.

Creditors also plan to grant the production equipment supplier a $40 million funding, it added.

MBS Group provides lighting rigs and other film equipment to film studios and production companies like Netflix (NFLX) and Warner Bros. Discovery (WBD), according to the report.

HPS Investment Partners, Oaktree Capital and MBS Group did not immediately respond to MT Newswires' requests for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)