NEP, the US-headquartered outside broadcast (OB) and services group, announced today that it has entered into a definitive agreement to acquire Mediatec Group for an undisclosed sum.
The deal will see NEP acquire Mediatec entirely, bringing one of Europe’s largest OB and video display solutions providers into NEP’s worldwide network of brands, which also includes NEP Visions, OBS TV, Bow Tie Television, Roll to Record and Screen Scene. NEP has offices in the UK, the Republic of Ireland, the Netherlands, Dubai and Australia.
Mediatec is currently owned by Stena Adactum AB (63 per cent), Holtback Group AB (15 per cent), Kenneth Paterson (21.5 per cent) and Paul Henriksen (0.5 per cent). NEP is majority-owned by New York private-equity firm Crestview Partners, with a significant ownership stake held by NEP’s management.
“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,” says NEP CEO Kevin Rabbitt (pictured). “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.” Both Henriksen and Paterson will become members of NEP’s senior management team and be invested in the company as shareholders.
This transaction is expected to be completed “in the coming weeks”.
Following the acquisition of Mediatec, NEP will have over 100 high-definition OB units; post-production facilities in Dublin, Oslo, Helsinki, Zurich and Munich; and studio facilities in Los Angeles, New York, Connecticut, London, Sydney, Melbourne, Oslo and Helsinki.
“NEP has a reputation for excellence around the globe, and we are excited to become part of their worldwide network,” says 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 adds: “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.”