NEP to acquire Global Television from Catalyst
NEP Group Inc has entered into a definitive agreement to acquire GTV Holdings Pty Ltd (‘Global Television’ or ‘Global’) from Catalyst Investment Managers. Financial terms were not disclosed. The transaction brings together US-based NEP and Australia’s Global Television, uniting two of the world’s most experienced and successful television technical services companies.
NEP is one of the largest broadcast and live event service companies with operations across the United States, United Kingdom and Brazil, and supporting thousands of events annually around the world. The acquisition of Global Television further expands NEP’s presence into Australia and Asia. NEP is majority-owned by private funds managed by Crestview Partners, with a significant ownership stake held by NEP’s management team.
NEP CEO Kevin Rabbitt says: “Global Television has an outstanding reputation for excellence in live sports and light entertainment and is the clear leader in the Australian television market. Together, NEP and Global Television offer a much broader pool of expertise, resources, and facilities and extend NEP’s services worldwide, adding significant value for our clients and partners who work internationally. We are excited to work with Global’s CEO, Keith Andrews, and his management team to continue to grow their business.
“With the support of our private equity partner, Crestview Partners, we have expanded our geographic footprint and established NEP as a worldwide leader in the industry. The Global acquisition is an important step in that process.”
Global facilitates the majority of premium live sport produced and broadcast in Australia, and the most-watched live entertainment programmes. Global has also achieved international recognition for its technical expertise in host broadcasting, partnering with production companies and broadcasters to win major contracts, including the Glasgow 2014 Commonwealth Games and 2014 G20 Leaders Summit in Brisbane.
Global will remain an independent operating entity based in Australia, led by Keith Andrews and his executive team.
Combined with Global’s top-tier fleet of outside broadcast and studio facilities, NEP will offer over 70 high-definition (HD) outside broadcast units; several HD flypacks; studio facilities in Los Angeles, New York, London, Cardiff, Sydney, and Melbourne; thousands of plasma, LED, and projection video display solutions; as well as a large team of industry-leading engineering and technical experts.
The transaction is being financed entirely with debt arranged by Barclays and Morgan Stanley, and is expected to close in early 2014.