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NEP to acquire Swedish OB company Mediatec

NEP to acquire Swedish OB company Mediatec
News
David Wood
27 March 2015

US owned OB provider NEP is making another acquisition, adding Swedish company Mediatec to its outside broadcast portfolio.

Billed as one of Europe’s largest providers of integrated technical solutions for event and television productions, Mediatec is headquartered in Sweden, with offices in Norway, Denmark, Finland, Germany, Switzerland and the UK.

In February NEP  acquired The Screen Scene Group, billed as the  largest supplier of post production and live broadcast facilities in Ireland.  

Mediatec owns Northern Europe’s largest fleet of  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, with md of Mediatec Broadcast Paul Henriksen and md of Mediatec Solutions Kenneth Paterson becoming members of NEP’s senior management team. They will also be invested in the company as shareholders.

NEP is a worldwide provider of outsourced solutions to the broadcast and live event industries, and one of the biggest OB operators in the UK, 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 NEP's reach across Europe, said NEP CEO Kevin Rabbitt.

“We see fantastic opportunity for growth in Europe, and I look forward to working with Paul Henriksen and Kenneth Paterson, along with both of their teams, to continue to expand their business.” 

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.

This transaction is expected to be completed in the coming weeks with NEP expecting 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.

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.


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