Outside broadcast specialist NEP Group has secured a $700m equity investment from a group of co-investors led by the company 26North Partners LP (26North).
Carlyle, NEP’s existing investor, is one of the companies contributing to the investment alongside 26North and will remain its largest shareholder.
26North was founded in 2022 by Josh Harris, the Founder of Harris Blitzer Sports and Entertainment and the Managing Partner of the Washington Commanders.
NEP has also completed a comprehensive debt refinancing, which reportedly enhances its capital structure and reduces its debt levels.
NEP has credits as a media services and live events partner for live productions such as the Super Bowl, the Olympics, the World Cup, the PGA Championship, Premier League football, Wimbledon, Eurovision Song Contest, the Oscars and major global events like the recent NATO Summit.
Credit: NEP Group
NEP said the deals would allow it to accelerate investment in its global operations, product development, and new partnerships.
Martin Stewart, CEO of NEP Group, said: “We’re thrilled to take NEP to the next level with outstanding capital partners at our side. Josh brings exceptional expertise in creating one of the world’s leading sports and entertainment portfolios, and he and the 26North team have a proven track record of growing businesses across industries. We also couldn’t be more pleased to have earned the continued trust and support of Carlyle.
“We remain committed to investing in our people, technology, and dynamic facilities to deliver the innovation, scale, and reliability that our clients have relied on for 40 years. We’re beginning our next 40 years with great momentum.”
Mark Weinberg, Head of Private Equity at 26North, said: “NEP represents the kind of business we seek to invest in: a global market leader with a stellar reputation for service delivery, technical expertise, and innovation that keeps customers coming back for compelling storytelling around their most important events and experiences.”
NEP Europe recently appointed Ed Tischler as Managing Director of NEP UK. Discover more here.
.jpg)
Lumine Group acquires Imagine Communications
Lumine Group has acquired Imagine Communications through one of its subsidiaries.
UK “minded to intervene” in $110bn Paramount-WBD merger
In a written statement, Lisa Nandy, the UK’s Secretary of State for Culture, Media, and Sport, has warned of the likelihood of governmental intervention in Paramount’s $110bn acquisition of Warner Bros Discovery.
Warner Bros. Discovery sets out Wimbledon coverage plans for Europe
Warner Bros. Discovery (WBD) has confirmed its European coverage plans for this week’s Wimbledon tennis championship through its HBO Max, Eurosport and TNT Sports platforms.
Barb adds to leadership team as Caroline Davey becomes Chief Executive
UK audience measurement organisation Barb has made key changes to its leadership team as Caroline Davey takes up the role of Chief Executive this week.
DAZN teams with Antenna Group to launch news service in Italy
Sports streamer DAZN has launched an original news service on its Italian platform in partnership with international media organisation Antenna Group.
