The Carlyle Group Assumes Majority Interest in NEP Group
24/10/2018
NEP Group, Inc. (NEP) and The Carlyle Group (NASDAQ: CG) announced today that Carlyle Global Partners (CGP), Carlyle's long-duration private equity fund, has completed its acquisition of Crestview Partners' remaining shareholding in NEP. Carlyle initially invested in NEP alongside Crestview and Management in June 2016 and, following the closing on October 19, 2018, now holds a majority interest in NEP. Carlyle will continue to support NEP's strategy of growing its position as a leading worldwide outsourced technical production partner that enables premier content producers to make, manage and show the world their content.
Carlyle, a global alternative asset manager with $210 billion in assets under management across 335 investment vehicles, has a long-term track record of successfully investing in growing media companies, as well as technology and business service companies. As of June 30, 2018, the firm had invested nearly $90 billion in private equity transactions and $20 billion across the technology and business services sectors alone. Carlyle invested in NEP through the CGP long-duration fund, which Carlyle launched in 2014 to pursue opportunities that leverage its expertise, resources and global platform for investments that benefit from longer hold periods and structural flexibility. The CGP fund's ability to hold NEP for a longer period of time than a traditional private equity fund and its focus on long-term capital investment provides NEP with substantial available capital to support the company's current and future growth strategy.
As part of the transaction, NEP announced the company's new Board of Directors, including three new members. Joining the NEP Board are:
Venus Williams, professional tennis player and Principal at EleVen by Venus Williams and VStarr Interiors. In 2007 Ms. Williams launched EleVen, a lifestyle business and brand of fashion-forward activewear, and in 2002 formed VStarr Interiors, creating elegant, timeless designs for residential and commercial properties. Both businesses are supported by the same hard work, preparation, dedication, intuition and instinct that has made her one of the world's top athletes. Ms. Williams is a business graduate of Indiana University East and a graduate of the Art Institute's fashion design program.
Matthew Coles, Vice President, The Carlyle Group. Mr. Coles has been with CGP since 2016 and previously worked in Carlyle's European Buyout fund. Since joining Carlyle in 2010, Mr. Coles has been actively involved in investments across a number of industries and sectors including business services, industrials, consumer and financial services. He is a graduate of St. Peter's College, Oxford University. Mr. Coles will serve on the Board's Audit Committee.
Patrick J. Wilson, The Carlyle Group. Mr. Wilson has been with The Carlyle Group since 2013 and CGP since 2015. His experience at Carlyle includes multiple private equity funds, including Carlyles flagship buyout fund in Asia, Carlyle Asia Partners, and multiple sectors, including media, education, healthcare and industrials. He is a graduate of the University of Sydney's Business School and Faculty of Law and received his Master of Applied Finance from the Securities Institute of Australia. Mr. Wilson will serve on the Board's Audit Committee.
Kevin Rabbit, CEO of NEP Group
Continuing on the NEP Board of Directors are six members:
Kevin Rabbitt, CEO of NEP Group, will continue to serve on the Board and will assume the role of Chairman.
Debra Honkus, Co-Founder of NEP and former Chairman of the Board, will continue to serve on the Board and will assume the role of Chairman Emeritus.
Tyler Zachem, Managing Director of The Carlyle Group and Co-Head of the Carlyle Global Partners fund, will continue to serve on the Board. Mr. Zachem will chair the Board's Compensation Committee.
Ken Schanzer, retired President of NBC Sports, will continue to serve on the Board and its Compensation Committee.
Mark Patricof, Founder of Patricof Co, will continue to serve on the Board and its Compensation Committee.
Fred Reynolds, retired CFO of CBS, will continue to serve on the Board and chair the Board's Audit Committee.
Carlyle has been an outstanding partner over the last two years, and we're excited for the opportunity to continue our relationship, said Kevin Rabbitt, CEO of NEP. The industry expertise, global network and long-duration capital they provide are major assets to NEP as we move forward with our strategy to expand globally, broaden our service offerings and grow the business.
I'm also looking forward to working with our new NEP Board of Directors. We have an exceptional group of people, and I am personally excited that Venus has decided to join this group. Collectively, the Board brings valuable and diverse experiences and perspectives to the table.
Tyler Zachem, Managing Director and Co-head of Carlyle Global Partners, added: NEP's management team has grown the business significantly since our original investment. We look forward to continuing this momentum as we work together to expand NEP's position as a fully diversified global outsourced production services business.
Jones Day served as legal advisors to NEP on the transaction. Debevoise & Plimpton LLP served as legal advisors to Carlyle on the transaction. J.P. Morgan Securities LLC, Barclays and Patricof Co served as financial advisors to the Company. Berenson & Company, LLC served as financial advisor to Carlyle.
About The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $210 billion of assets under management across 335 investment vehicles as of June 30, 2018. Carlyle's purpose is to i
LINK: | https://www.live-production.tv/news/products/carlyle-group-assumes-maj... |
See more stories from liveproduction |
Most recent headlines
04/08/2024
Dalet Appoints Santiago Solanas as CEO to Lead Next Era of Growth and Innovation
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 and Veritone Reach Agreement to Distribute, Transact and Monetize Media Archives
Dalet, a leading technology and service provider for media-rich organizations, a...
28/04/2024
Mediahaus delivers the first SRT live-streaming sports production over 5G with URSA Broadcast G2
Mediahaus delivers the first SRT live-streaming sports production over 5G with U...
24/04/2024
UKTV's pay TV channel Alibi joins forces with S4C and All3Media International for new legal crime drama series Mudtown
Cast set to star include Erin Richards and Tom Cullen Wednesday 24 April 2024 ...
24/04/2024
K-Hip-Hop's Biggest Names Take Center Stage on KrOWN X HAN 2024'
This month marked the return of Spotify's HAN, our collaborative program that brings the unique sounds and culture of Korean hip-hop to the world through ex...
24/04/2024
RADAR Italy Returns With 6 Artists Transforming the Country's Music Landscape
As Spotify's program to spotlight rising talent from around the world, RADAR...
24/04/2024
Spotify Partners With Les Flammes Music Awards To Celebrate French Rap
Spotify is once again teaming up with Les Flammes, the only music awards dedicated to rap, R&B, Afrobeats, and popular culture in France. Spotify helped create...
24/04/2024
Taylor Swift's THE TORTURED POETS DEPARTMENT' Becomes Spotify's Most-Streamed Album in One Week
Records smashed. History made. It's been just five days since Taylor Swift u...
24/04/2024
SBS marks Earth Day as The Cook Up with Adam Liaw becomes first Australian show to have its carbon footprint validated through SSA
SBS marks Earth Day as The Cook Up with Adam Liaw becomes first Australian show ...
24/04/2024
Save money every day with SBS's Ricardo Gonalves and Peggy Giakoumelos on new Cost of Living Secrets podcast
Save money every day with SBS's Ricardo Gon alves and Peggy Giakoumelos on n...
24/04/2024
Authentic Perspectives
The first feature film from writer-director Shaun Seneviratne, Ben and Suzanne: A Reunion in 4 Parts depicts the struggle between love and duty as Ben (Sathya S...
24/04/2024
Melanie Georgieva Joins Panalux as Long Form Sales Director
LONDON, England (24 April 2024) Panalux, a leading rental provider of lighting and power solutions for the motion-picture industry and part of Panavision'...
24/04/2024
Deutsche Telekom Powers New MagentaTV Service With Broadpeak's Cloud DVR Solution
April 24, 2024 -- Deutsche Telekom Powers New MagentaTV Service With Broadpea...
24/04/2024
Mundo Hispano Digital Launches MundoNow Connect
ATLANTA Mundo Hispano Digital has launched a new advertising product, MundoNow Connect, that is designed to help advertisers reach Hispanic audiences on connect...
24/04/2024
Epic Games Releases Unreal Engine 5.4
Epic Games has released a major new version of Unreal Engine, which has become a mainstay in virtual production, that includes new features and improvements to ...
24/04/2024
NAB Show Welcomes Creators to Las Vegas
The National Association of Broadcasters welcomed the industry to its annual extravaganza last month in Las Vegas. The sights and sounds were similar to previou...
24/04/2024
Chptr, Gray Television Launch on Video Obituary Platform
NEW YORK Chptr and Gray Television have announced that they are introducing a new video solution for funeral homes and communities that will allow funeral direc...
24/04/2024
Adobe Charts the Future of Creativity and AI at MAX London
Adobe Charts the Future of Creativity and AI at MAX London Brie Clayton April 24, 2024 0 Comments Adobe is taking MAX, the world's largest creativ...
24/04/2024
Curtis LeGeyt, NAB President and CEO, Extends Contract
National Association of Broadcasters president and CEO Curtis LeGeyt has agreed to a contract extension that keeps him at the trade association's helm throu...
24/04/2024
Jo Ann Ross Steps Down as Ad Sales Chairman at Paramount
Jo Ann Ross, the long-running queen of television advertising sales, is stepping down from her role as chairman of Paramount Advertising at the end of the month...
24/04/2024
Scripps Names James Galindo as Station Manager in Bakersfield
E.W. Scripps said it named James Galindo as station manager for KERO, the ABC affiliate in Bakersfield, California....
24/04/2024
Amazon Prime Video's Fallout' Tops TVision Power Score Rankings
Amazon Prime Video's Fallout topped TVision's Power Score rankings of shows on connected TV for the week of April 15....
24/04/2024
DoubleVerify Gets MRC Stamp for CTV Viewability Metrics
DoubleVerify said that it received accreditation from the Media Rating Council for its measurement of video viewable impressions and related metrics for connect...
24/04/2024
PlayBox Neo Highlights Latest Advances in Smart Media Pla...
PlayBox Neo reports a successful and well attended 2024 NAB Show, held in mid April at the Las Vegas Convention Center. Now in its 101st year, the event attract...
24/04/2024
MPEG-5 LCEVC Showcase at NAB 2024 demonstrates ecosystem...
MPEG-5 LCEVC ecosystem support continues to grow and includes TVs and set-top boxes, gearing up for the deployment of TV3.0 in Brazil New, never-before-seen ...
24/04/2024
Black Box and NOVO at Integrate Middle East 2024 Featurin...
At Integrate Middle East 2024 in Booth AR-F45, where the company is exhibiting along with its partner NOVO, Black Box will feature IP-based KVM and AV solution...
24/04/2024
NEP Belgium Taps manifold CLOUD in Virtual OB Setup for Live Sports
FRANKFURT, Germany Software solutions provider manifold technologies has announced that its manifold CLOUD was selected by NEP Belgium to provide a signal proce...
24/04/2024
Integral Ad Science Achieves MRC Accreditation
NEW YORK Integral Ad Science has announced that it has earned Media Rating Council (MRC) accreditation for its sophisticated invalid traffic (SIVT) filtration f...
24/04/2024
Plex Launches NFL Channel
LOS GATOS, Calif. Streaming media company Plex has announced a partnership with the National Football League that will add the NFL Channel, the NFLs 24/7 free l...
24/04/2024
NAB Extends Contract for President & CEO Curtis LeGeyt
WASHINGTON, D.C. NAB President and CEO Curtis LeGeyt has agreed to a contract extension that will keep him at the helm of NAB through 2029, according to NAB Joi...
24/04/2024
GlobalM, scoopa Form Strategic Partnership To Enable Speedy Content Distribution
GENEVA, Switzerland Software-defined video network (SDVN) platform specialist GlobalM and broadcast-quality content distribution expert scoopa have formed a str...
24/04/2024
Screen Australia celebrates Australian projects bound for Cannes Film Festival 2024
24 04 2024 - Media release Screen Australia celebrates Australian projects bound...
24/04/2024
Berklee Online to Hold 2024 Berklee Onsite Music Conference May 31-June 1
Berklee Online to Hold 2024 Berklee Onsite Music Conference May 31-June 1 The in-person conference is open to Berklee Online students and the music community ...
24/04/2024
Kargo Gives Buyers More Detail on CTV Campaigns
Kargo said it has launched a new product that gives advertisers more details about the connected TV campaigns they are buying....
24/04/2024
MundoNow Connect Launches To Help Brands Target Hispanics on CTV
Mundo Hispano Digital said it has launched MundoNow Connect, which is designed to use first-party audience data to help advertisers reach Latino connected-TV vi...
24/04/2024
Brittney Griner Sits With Robin Roberts for 20/20' Special
Brittney Griner, the WNBA star who spent 10 months in a Russian prison, sits with Robin Roberts for a primetime special on ABC Wednesday, May 1. The 20/20 speci...
24/04/2024
DirecTV Adds Content From Cineverse, Scripps
To give its subscribers more content to pick from, DirecTV Stream is making deals to carry streaming channels from Cineverse and additional digital multicast ch...
24/04/2024
Jenny Padura Named Anchor at Univision's WLTV Miami
Jenny Padura has been promoted to co-anchor on the 6 and 11 p.m. newscasts at WLTV Miami, known as Univision 23. She starts April 25 and will anchor with Ambros...
24/04/2024
Paris Schutz Joins WFLD Chicago as Political Reporter
Paris Schutz has joined WFLD Chicago, known as Fox 32, as a political reporter. He starts April 29 and will handle all political coverage for the station, repor...
24/04/2024
Plex Adds NFL Channel Ahead of Draft Coverage
Plex has made a deal with the National Football League that will let users watch the NFL Channel, the league's free ad-supported streaming television (FAST)...
24/04/2024
Schwarzenegger, Stallone Discuss Rivalry on TMZ Presents'
Arnold Schwarzenegger and Sylvester Stallone sit for a chat when TMZ Presents: Arnold & Sly: Rivals, Friends, Icons debuts on Fox Tuesday, April 23. The pair di...
24/04/2024
Lionsgate Signs Long-Term Deal With TV Production Head Gary Goodman
Lionsgate Television said it signed a new multiyear employment agreement with executive VP, worldwide production, Gary Goodman....
24/04/2024
Miguelangel Lopez Upped to Regional VP of News at Telemundo Florida Trio
Miguelangel Lopez, WTMO Orlando (Florida) VP of news, has been named regional VP of news and content for WTMO, WRMD Tampa and WWDT Fort Myers, effective immedia...
24/04/2024
VEON Announces 2024 AGM and Board Nominees
24 Apr 2024 VEON Announces 2024 AGM and Board Nominees Amsterdam, 24 April 2024 - VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a global digital operator...
24/04/2024
Howie Schwab - Beloved ESPN Researcher, Producer, and Trivia Star - Dies at 63
Howie Schwab - Beloved ESPN Researcher, Producer, and Trivia Star - Dies at 63 By SVG Staff Wednesday, April 24, 2024 - 6:46 am Print This Story | Subscri...
24/04/2024
Miss the SVG Venue Summit at Allegiant Stadium? All Panel Recordings Now Available on SVG PLAY
Miss the SVG Venue Summit at Allegiant Stadium? All Panel Recordings Now Availab...
24/04/2024
Rohde & Schwarz and IPG Automotive unveil a complete Hardware-in-the-Loop automotive radar test solution
Rohde & Schwarz and IPG Automotive unveil a complete Hardware-in-the-Loop automo...
24/04/2024
My Oni Girl' Trailer Unveils a World Where Suppressed Emotions Can Transform You
Back to All News My Oni Girl' Trailer Unveils a World Where Suppressed Emo...
24/04/2024
Nurturing a new look for Huntapac
Posted on 24 Apr 2024 Creating a contemporary brand update that reflects a company's strong heritage can often pose a challenge, yet its a task ICG embrace...
24/04/2024
2024-04-24
Beginning in May, a special Today at Apple series titled Made for Business will offer small business owners and entrepreneurs free opportunities to learn how ...