NEP Group acquires HDR to strengthen offering in Nordic markets
Global outsourced technical production partner NEP Group has signed a definitive agreement to purchase HDR Group, a full-service service provider headquartered in Stockholm. The agreement became effective on 17 June and the deal is expected to close in early Q3 or Q4 of this year, conditional upon the approval of the Swedish Competition Authority.
Prior to closing, NEP and HDR will continue to operate as separate and independent companies.
HDR was founded in 2007 and today employs more than 100 employees who support clients in the live sports, entertainment and broadcast markets in Sweden, Norway, Denmark and Finland. The addition of HDR is consistent with NEP’s stated strategy to become the world leader in Broadcast Services and Media Solutions and increases NEP’s ability to serve its clients in the Nordic region and worldwide.
The acquisition provides NEP’s European divisions growth opportunities through the addition of HDR’s broadcast centres and extensive studio footprint in the region, as well as opportunities in the reality and unscripted live TV market.
“This acquisition will be great for our clients in Europe and globally,” said Mike Werteen, global president, NEP Broadcast Services. “Adding HDR’s resources to NEP’s gives us the ability to offer the ‘best of the best’ in innovative technical solutions, talent and resources, led by strong local management teams.”
“This is a great cultural fit,” added Paul Henriksen, president of NEP Europe. “Our organisations share similar values and are founded on service-oriented cultures that are centred on delivering exceptional results through innovative solutions. We have a great deal of respect for HDR’s work and their team.”
“I’m proud of what we’ve accomplished in only a little more than a decade,” said Mats Dahlström, CEO of HDR. “We’re excited about joining the NEP Worldwide Network as the next step in our evolution. Being a part of a high-quality organisation will be a tremendous benefit to our staff and our clients.”
After a brief transition period following closing, HDR will become part of NEP and will go to market as NEP.