- NEP to acquire Nordic facilities firm
- Continuation of NEP Group’s acquisition strategy
- Deal expected to close by end of 2019
The NEP Group is to acquire HDR Group, a full-service production services firm based in Stockholm, Sweden.
NEP said the addition of HDR’s broadcast centres and “extensive” studio footprint in the Nordic region would provide its European divisions with growth opportunities and give it a foothold in the reality and unscripted live TV market.
The deal is part of NEP’s ongoing strategy to acquire facilities firms as it continues in its mission to be “the world leader in broadcast services and media solutions”.
- Read more: Analysis: Why NEP acquired SIS Live
In the past decade, it has made multiple acquisitions including UK OB firms Bow Tie Television and Roll to Record, as well as deals in 2014 for Sweden’s Mediatec Group, Germany’s RecordLab and Belgium’s Outside Broadcast. And in June last year, it announced the acquisition of Italian OB supplier Telerecord. Overall, NEP Group now has more than 4,000 employees.
- Read more: M&A: Current drivers and future directions
NEP Broadcast Services global president Mike Werteen said: “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.”
- Read more: Interview: NEP UK, Steve Jenkins
HDR, which was founded in 2007 employs more than 100 employees, works on live sports, entertainment and broadcast content in Sweden, Norway, Denmark and Finland.
“I’m proud of what we’ve accomplished in only a little more than a decade,” added 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 organization will be a tremendous benefit to our staff and our clients.”
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 will then become part of the NEP Group and will be rebranded as NEP. Terms of the deal were not disclosed.