NEP Broadcasting, a portfolio company of American Securities, has acquired certain assets and CBS contracts from National Mobile Television, a provider of remote television broadcast facilities for the sports and entertainment industries. No financial terms were disclosed.
NEP Broadcasting and National Mobile Television (NMT) announced today that NEP has acquired certain assets and CBS contracts from NMT. NEP and NMT are two of the nation's leading providers of remote television broadcast facilities for the sports and entertainment industries. NEP is majority-owned by American Securities, a private equity firm headquartered in
The contracts with CBS Sports expands NEP's relationship with the network and includes PGA Tour Golf, Masters Golf, NFL regular season and post-season games, NCAA regular season men's basketball games and the NCAA Division 1 Men's Basketball Tournament. In addition, NEP acquired two HD mobile production trucks (HD1 and HD12) and associated facilities that currently support these CBS events. NEP has also hired the engineering and technical employees of NMT dedicated to each of these mobile units.
Lou Borrelli, Chief Executive Officer of NEP said, “Through this transaction, we enhance our already significant relationship with CBS Sports, add two state-of-the-art high definition production packages to the industry's best fleet and expand our family of world-class engineering talent. NEP will now support all scheduled tour and major championship golf broadcasts on network and cable television in the
Frank Coll, Sr. VP, Operations of NMT said, “This transaction allows us to significantly decrease our debt load and focus our attention on our core businesses of providing facilities to regional sports networks and outsource staffing services to the industry at large. While we greatly value and have enjoyed our relationship with CBS Sports over the last ten years, this transaction is a critical piece of our planned restructuring and repositioning of NMT. With a restructured balance sheet and a focused strategy, NMT is positioned to profitably serve its niche in this growing market.”
Ken Aagaard, Executive Vice President, Operations, Engineering & Production Services, CBS Sports said, “I want to thank NMT for their diligent support of CBS Sports over the last decade and wish them much success with their new initiative. Having these assets and the terrific engineering staff that supports them in NEP's talented hands is a great outcome for them and for CBS Sports. I could not be happier.”
NEP Broadcasting is the leading international provider of outsourced teleproduction services critical to the delivery of live sports and entertainment events. The world's premiere broadcast networks and production companies look to NEP to provide state-of-the-art facilities, engineering expertise and the finest customer service, in support of telecasts of major events and programs around the globe.
More information on NEP is available at http://www.nepinc.com
NMT is celebrating its 40th year in the mobile television facilities business. From its founding in 1968, NMT has taken great pride in not only being one of America's leading mobile television facilities providers, but also as a leader in outsource staffing services. Anytime, anywhere, NMT enables media.
More information on NMT is available at www.nmtv.com
About American Securities
Headquartered in New York with an office in Shanghai, American Securities is a leading US middle-market private equity firm that invests in market- leading North American companies with annual revenues generally ranging from $100 million to $1 billion. The firm traces its roots to the family office founded in 1947 by William Rosenwald to invest and manage his share of the Sears, Roebuck & Co. fortune. More information about American Securities can be found at www.american-securities.com