Canadian private equity firm acquires Pornhub owner MindGeek

March 18 (UPI) -- Ethical Capital Partners, a private equity firm based in Canada, has acquired MindGeek -- the owner of Pornhub and other adult entertainment websites.

The private equity firm focuses on investing in industries that "require principled ethical leadership," according to its website, and its acquisition of MindGeek comes as the latter faces multiple lawsuits alleging it has knowingly profited from child pornography.

"In MindGeek, we have identified a dynamic tech brand that is built upon a foundation of trust, safety and compliance," Ethical Capital Partners co-founder Fady Mansour said in a statement issued Friday.

"With ECP's resources and broad expertise spanning regulatory, law enforcement, public engagement and finance, we have a unique opportunity to strengthen what already exists," he said.

The firm noted that MindGeek -- which also owns YouPorn, Redtube, Brazzers and the adult gaming company Nutaku -- is "committed to quality adult entertainment made by and for consenting adults."

Solomon Friedman, the equity firm's vice president for compliance, told NBC News it will have "complete control" over MindGeek's assets.

In December 2020, MindGeek began requiring users who upload adult content to verify their identity and removed all non-verified content on its platforms.

Despite promises of being more transparent, the Financial Times reported the company won't yet reveal the executives who will now be running MindGeek.