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.
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