American Securities Sells NEP In Sprint Ahead Of ‘Fiscal Cliff’

Seller: American Securities LLC

Buyer: Crestview Partners

Target: NEP Broadcasting LLC

Price: $800 million

Advisers: Barclays, UBS and AGM (NEP); Morgan Stanley (Crestview)

Lenders: Barclays, Morgan Stanley and GE Capital

Private equity firm American Securities LLC said on Thursday it sold a U.S. media production company to peer Crestview Partners, in one of the clearest examples yet of a firm rushing to close a deal before the end of the year to avoid a potentially larger tax bill, according to sister news service Reuters.

NEP Broadcasting LLC, a Pittsburgh-based provider of trucks used as mobile production units for television networks such as ABC, Fox and ESPN, was sold to Crestview for roughly $800 million, two sources familiar with the situation said. Jeff Marcus, a ...

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