March 26, 2015 (Pittsburgh)
NEP Group Inc. ( NEP') announced today that it has entered into a definitive agreement to acquire Mediatec Group ( Mediatec ) from the current owners. Financial terms were not disclosed. This transaction will bring one of Europe's largest outside broadcast and video display solutions providers into NEP's growing worldwide network of brands.
NEP is a leading worldwide provider of outsourced solutions to the broadcast and live event industries, offering technical services for outside broadcast, studio production, video display, host broadcasting and post production. Headquartered in in the United States, NEP has offices in the UK, Ireland, the Netherlands, Dubai and Australia. The acquisition of Mediatec will expand its reach across Europe, and add greatly to their worldwide pool of resources.
Mediatec is truly a leader in the broadcast and live events industries in Europe, and we are excited to have their entire team join NEP, said NEP CEO Kevin Rabbitt. We see fantastic opportunity for growth in Europe, and I look forward to working with Paul Henriksen, the managing director of Mediatec Broadcast and Kenneth Paterson, the managing director of Mediatec Solutions, along with both of their teams, to continue to expand their business.
Mediatec is one of Europe's largest providers of integrated technical solutions for event and television productions. Headquartered in Sweden, the company has offices in Norway, Denmark, Finland, Germany, Switzerland and the United Kingdom. Mediatec offers solutions for outside broadcast, studio production and video display, including Northern Europe's largest fleet of new OBs, the world's largest fleet of LED trucks, as well as studios and control rooms, post-production capabilities, wireless and specialty cameras, and flypacks. Mediatec Broadcast and Mediatec Solutions will continue to operate as separate entities under its current leadership teams. Paul Henriksen and Kenneth Paterson will become members of NEP's senior management team, and will also be invested in the company as shareholders.
NEP has a reputation for excellence around the globe, and we are excited to become part of their worldwide network, said Paul Henriksen. We know that this will provide a fantastic opportunity to work within NEP to continue to grow Mediatec's presence throughout Europe and develop smart solutions for our clients.
Kenneth Paterson added, This is wonderful news for Mediatec's employees and clients alike. As part of NEP's worldwide network, we will be able to offer our clients access to a much deeper pool of resources and technology around the globe - expanding our reach to follow them wherever they go.
With the acquisition of Mediatec, NEP will have over 100 high-definition (HD) outside broadcast units; HD flypacks, satellite uplink trucks; smaller camera systems and other audio visual packages; specialty and wireless cameras; post-production facilities in Dublin, Oslo, Helsinki, Zurich and Munich; studio facilities in Los Angeles, New York, Connecticut, London, Sydney, Melbourne, Oslo and Helsinki; thousands of plasma, LED, and projection video display solutions; a fleet of mobile LED trucks across North America and Europe; as well as an industry-leading team of engineers and technical experts.
This transaction is expected to be completed in the coming weeks. Stella Advisors served as key financial advisors and Wistrand served as key legal advisors to the sellers. Mark Patricof, a member of NEP's Board of Directors, played an advisory role on NEP's behalf, with Jones Day serving as NEP's legal advisors. NEP expects to finance the acquisition through a combination of incremental borrowings, assumption of Mediatec's existing debt and additional cash contributed by funds managed by Crestview Partners in exchange for common equity, as well as equity contributions by NEP management. Certain existing shareholders of Mediatec are expected to roll-over their equity into NEP. The transaction is expected to be deleveraging in nature on both a first lien and total debt basis. In support of the transaction NEP has obtained committed financing from Barclays Bank PLC.
Background
Currently, Mediatec is owned by Stena Adactum AB (63%), Holtback Group AB (15%), Kenneth Paterson (21.5%) and Paul Henriksen (0.5%). As part of this transaction, NEP will acquire Mediatec entirely. NEP is majority-owned by funds managed by Crestview Partners with a significant ownership stake held by NEP's management team.
About Mediatec
Founded in 2007 when the owners of Massteknik and Prisma OB merged and acquired the foremost companies in the Nordic region within outside broadcast production and event technology, Mediatec has grown to be one of the largest companies offering cutting edge solutions for the corporate, entertainment and sports industries in Europe and worldwide. For more information, visit www.mediatecgroup.com.
About Crestview Partners
Founded in 2004, Crestview Partners is a value-oriented private equity firm focused on the middle market. The firm is based in New York and manages funds with over $7 billion of aggregate capital commitments. The firm is led by a group of partners who have complementary experience and distinguished backgrounds in private equity, finance, operations and management. Crestview's senior investment professionals primarily focus on sourcing and managing investments in each of the specialty areas of the firm: media, energy, financial services, healthcare and industrials. For more information, please visit www.crestview.com.
About NEP
With the world's most advanced equipment, largest fleet of mobile units and global production studios to suit every genre, NEP enables its clients to execute, deliver, and display exceptional productions on any platf
Most recent headlines
04/08/2024
Dalet, a leading technology and service provider for media-rich organizations, is excited to announce Santiago Solanas as its new Chief Executive Officer (CEO)....
03/06/2024
Dalet, a leading technology and service provider for media-rich organizations, a...
08/05/2024
zweiB updates to latest version of R&S CLIPSTER Specialist in deliverables for cinema, events and trade shows
Rohde & Schwarz, a global leader in broadcast...
07/05/2024
NAB Show 2024
Utah Scientific rocked the 2024 NAB Show in Las Vegas, unveiling two new game-changers in video signal management.
Our primary focus this yea...
07/05/2024
7th May 2024 The nations favourite comedy channel Gold has teamed up with the ma...
07/05/2024
There's something special about summer. We're not sure whether it's the warmer weather, the longer days, or something else a bit more magical, but s...
07/05/2024
NITV appoints Michael Rennie as Presenter and Senior Producer for NITV News
Media releases
NITV has announced the appointment of Michael Rennie as Presenter...
07/05/2024
The ability for line-of-site tactical voice and data networks to seamlessly traverse over Satellite Communications is an emerging requirement to assure warfight...
07/05/2024
On April 5, 2024, the L3Harris Avionics Products Repair Station (NN2R037L) in Gr...
07/05/2024
eds3_5_jq(document).ready(function($) { $(#eds_sliderM519).chameleonSlider_2_1({ content_source:......
07/05/2024
Share this article
width=32 height=32 loading=lazy data-lazy-src=https://apogeedigital.com/app/themes/juniper-theme/src/img/icons/facebook-purple.svg />
wid...
07/05/2024
BURBANK, Calif. The Walt Disney Company has finally delivered some from profits from its hefty streaming investments, with the second quarter of its fiscal year...
07/05/2024
Bonnie Hammer, vice chair of NBCUniversal, and Jen Psaki, MSNBC host, read from their new books at the 92nd Street Y in Manhattan Wednesday, May 8. Hammer's...
07/05/2024
Paramount Plus has ordered the series Crutch, a comedy that is a spinoff of CBS comedy The Neighborhood. Tracy Morgan stars....
07/05/2024
Edward J. and Melody Thomas Scott and Lidia Bastianich will receive Lifetime Achievement honors at the 51st annual Daytime Emmy Awards in June, the National Aca...
07/05/2024
The 2024 Giants of Broadcasting & Electronic Arts luncheon and awards ceremony happens in New York November 12, and the honorees are Al Roker, weather and featu...
07/05/2024
Dabl Network has added The Wayans Bros., The Jamie Foxx Show, Living Single and Everybody Hates Chris to its weekday and weekend lineups. Those shows join the l...
07/05/2024
After winning a proxy fight, The Walt Disney Co. said its entertainment business turned a profit and added subscribers in its fiscal second quarter....
07/05/2024
NBA Entertainment is closing out the second season of its series Pass the Rock with a look at Victor Wembanyama of the San Antonio Spurs, the league's rooki...
07/05/2024
Syncbak, which provides stations with streaming capabilities, said it is rebranding as Zeam Media....
07/05/2024
Samsung has made a deal with Magnolia Pictures that will bring titles from Magnolia to the Samsung TV Plus free streaming platform....
07/05/2024
Amazon, which has added commercials to Amazon Prime Video, is rolling out new interactive ad formats that will enable advertisers to engage streamers and sell s...
07/05/2024
Syncbak, a 15 year-old provider of streaming tech for local broadcast stations has rebranded itself, adopting the name of its streaming service launched in Febr...
07/05/2024
POST Luxembourgs journey with TAG Video underscores how finding a vendor who und...
07/05/2024
PORTSMOUTH, N.H. New findings from Hub Entertainment Research provides extensive data showing that the majority of consumers will opt for lower cost ad-supporte...
07/05/2024
NEW YORK The Library of American Broadcasting Foundation (LABF) has announced th...
07/05/2024
CBS News has named Lindsey Reiser an anchor and correspondent for CBS News 24/7, the network's live, streaming news service. Reiser, who was most recently a...
07/05/2024
NEEDHAM, Mass. After more than two years of decline, worldwide tablet shipments posted modest year-over-year growth of 0.5% in the first quarter of 2024 (1Q24),...
07/05/2024
ESPN is reporting that April was a record-setting month as the network delivered its best April prime time audience on record, dating back more than 30 years....
07/05/2024
WASHINGTON, D.C. The National Association of Broadcasters (NAB) has announced that Kirsten Donaldson has joined NAB as vice president of public policy. Donaldso...
07/05/2024
The Bulls are back home again this week from May 7-12! Don't miss out on any...
07/05/2024
SVG Sit-Down: AWS's Julie Souza on the Cloud and AI in Broadcast-Content Cre...
07/05/2024
Deloitte Analysts Peter Giorgio and Michael Vovk: Sports Properties Need To Reth...
07/05/2024
University of Texas' Jeff Hanel to Keynote 16th-Annual SVG College Summit Industry vet to discuss uniting live and creative in athletic department media arm...
07/05/2024
Premier League trials RefCam during Crystal Palace v Manchester United fixture By George Bevir
Tuesday, May 7, 2024 - 09:34
Print This Story
In a Premier ...
07/05/2024
CBS Sports Previews PGA Championship Plans; 125+ Cameras Include FlyCams, Bunker...
07/05/2024
Rohde & Schwarz brings cutting-edge solutions to TECNOSEC and DRONExpo 2024 Rohde & Schwarz will showcase its innovative portfolio at TECNOSEC and DRONExpo 20...
07/05/2024
Back to All News
Five New Games Join Netflix in May
Netflix Staff
Entertainment
07 May 2024
Global
Link copied to clipboard
Five new games are launching ...
07/05/2024
Back to All News
Top 10 Week of Apr. 29: Baby Reindeer' Holds Strong; Hee...
07/05/2024
Home News & Press Blancco Wins 2024 SEAL Business Sustainability Award
Blancco Wins 2024 SEAL Business Sustainability Award May 07, 2024
Blancco's v...
07/05/2024
CUPERTINO, CALIFORNIA Apple today unveiled the all-new Logic Pro for iPad 2 and Logic Pro for Mac 11, delivering breakthrough professional experiences for songw...
07/05/2024
Apple's new Privacy Manifest requirement mandates that apps explicitly disclose the privacy-related data they collect, the purposes for this collection, and...
07/05/2024
Taylor Swift's Eras Tour arrives to shake up EuropeHaving shaken four continents, Taylor Swift's Eras Tour finally brings the biggest pop culture icon o...
07/05/2024
Isiphetho: Destiny' beats Scandal!'E.tv's latest telenovela Isiphetho: Destiny' beat the channel's longest running soapie, Scandal!' ...
07/05/2024
Now there's HELP for ex-prisoners to find work in South AfricaNew initiative for ex-prisoners to find work in South Africa proves it's never too late fo...
07/05/2024
Tonight on Scandal: Cohen is pulled into keeping a secretDon't miss Tuesday, 7 May's riveting episode of South African soapie Scandal! on e.tv on DStv c...
07/05/2024
Skeem Saam: Monday's episode, 6 May 2024 [video]Missed an episode of Skeem Saam? No problem! Watch the latest episode of your favourite South African soapie...
06/05/2024
By Ilyse McKimmie
Now, more than ever
That's a phrase so often used in the last few years that I've come to dread seeing it in notes like this one. A...
06/05/2024
alt= class=wp-image-12099 data-lazy-src=/wp-content/uploads/2024/05/Blog-Exabyte-Storage-Demand-960x540-1.jpg/> Demand for storage solutions has reached unprece...
March 26, 2015 (Pittsburgh) 
