NEP Broadcasting, which is backed by American Securities, has agreed to buy Sweetwater and American Hi Definition. Financial terms were not announced. The companies will become part of NEP’s entertainment division. Van Nuys, Calif.-based American Hi Definition is a provider of theater-scale digital projection rentals and sales. Sweetwater is a digital rental company. New York-based American Securities is a PE firm.
Today, NEP Broadcasting, LLC announced that Sweetwater and American Hi Definition have entered into an agreement to merge into NEP’s entertainment divisions and become part of NEP Broadcasting. NEP is majority-owned by American Securities LP, a New York-based private equity firm, and NEP management.
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For three decades, NEP has been the leader in broadcast and video services, supporting some of the largest telecasts and live events around the globe. Both Sweetwater and American Hi Definition have a strong history of providing outstanding, high-quality service to their clients. With the addition of these two top-tier companies, NEP greatly expands the depth of services they offer their clients in the entertainment industry.
“This combination of talent, equipment, technology and experience allows us to provide our entertainment clients with a tremendous set of assets, and we are thrilled to enhance our presence in the West Coast market with Sweetwater and American Hi Definition,” says Debbie Honkus, CEO NEP Broadcasting.
Principal and Co-Founder of Sweetwater and American Hi Definition, Ady Gil adds, “Sweetwater and American Hi Definition are excited to have the backing of NEP, a true powerhouse in the industry. We are eager to work with the NEP entertainment team to drive the business forward and focus on continuing to provide the highest quality service we can through our existing brands.”
Sweetwater and American Hi Definition will work closely with NEP’s existing entertainment divisions, which include: Denali, the leading provider of mobile television production facilities geared for entertainment events; Screenworks, providing LED screens, cameras and projectors for a variety of music and live events; NEP Studios, the largest independent studio facilities and service provider in Manhattan; Premiere Entertainment, a leader in full-service production for mobile and live-to-web events; and Live Power, a power generation and distribution provider focusing on high-efficiency and superior customer service. Sweetwater and American Hi Definition’s top-of-the-line theater-scale digital projection, remote video production and display services complement NEP’s range of solutions and enrich the turn-key package they are able to offer their clients.
“We see tremendous growth in live TV shows, TV events, and live streaming.The combination of these very strong brands under NEP Entertainment improves our strategic position through integrated solutions while enhancing our client-focused culture and personalized service ” states Bill Humphrey, president of NEP Entertainment.
About NEP: NEP Broadcasting, LLC is the leading provider of broadcast and media services to the world’s top networks, production companies and event producers. NEP’s state-of-the-art facilities, engineering expertise and technical management have supported some of the largest television events around the globe. With more than 500 employees worldwide, offices in Pittsburgh, New York, Van Nuys, Corona, London, Cardiff, and Allentown, NEP Broadcasting is proud to serve their clients across their ten specialized divisions: Supershooters, Denali, Visions, Screenworks, NEP Studios, New Century Productions, Live Power, Premiere Entertainment Roll to Record, NEP Cymru. NEP is majority-owned by American Securities, a private equity firm headquartered in New York, and NEP management. For more information, please visit our website at www.nepinc.com
About American Securities: Headquartered in New York with an office in Shanghai, American Securities LLC is a U.S. middle-market private equity firm that invests in market-leading companies in North America with annual revenues generally ranging between $100 million to $1 billion. Investments are funded from more than $6 billion of committed capital. The firm traces its roots to the family office founded in 1947 by William Rosenwald to invest and manage his share of his family’s Sears, Roebuck & Co. fortune. More information on American Securities LLC can be found at www.american-securities.com.
SOURCE NEP Broadcasting