Chicago-headquartered provider of mobile HDTV production facilities Trio Video has been acquired by NEP Broadcasting, a portfolio company of American Securities. Independent investment banking firm Livingstone was the exclusive financial advisor to Trio. Terms of the transaction were not disclosed.
Livingstone, the leading independent, international investment banking firm, is pleased to announce that Trio Video, LLC (“Trio”, “Trio Video” or “Company”) has been acquired by NEP Broadcasting, LLC (“NEP”), a portfolio company of American Securities. Livingstone served as the exclusive financial advisor to Trio. Terms of the deal were not disclosed.
Headquartered in Chicago, Trio Video is a highly-regarded provider of mobile HDTV production facilities. The Company primarily serves Comcast SportsNet Chicago and WGN-TV, who together are the local television rights-holders for the Chicago Bulls, Cubs, White Sox, and Blackhawks. The Company also serves national TV networks, such as ESPN and FOX Sports, and is the largest provider of mobile production facilities for telecasts and HDTV web streaming of music festivals such as Lollapalooza, Coachella and Bonnaroo.
“We founded this company on a shoestring budget 30 years ago. The past few years we started getting approached by a number of suitors. We felt the time had come to investigate the best way to find a partner going forward. Livingstone did a great job taking us to market in a niche business,” said Manager and Co-Founder of Trio, Gary J. Meagher. “We are thrilled that industry leading NEP has chosen us to join their group of brands. It’s a great match of very complementary companies.”
“Trio has spent three decades building and establishing one of the most reputable mobile production facilities companies in the industry. We’re proud to have helped Trio find the right long-term solution and to post another successful sale to a strategic buyer for an important client,” added Livingstone Partner Steve Miles.
The sale to NEP follows recent notable transactions involving top-branded local Chicago companies including Goose Island Beer Co., Genuine Scooters, and ATI Physical Therapy. In addition, this is the second media:tech transaction closed by Livingstone in a week following the sale of UK-based TVC Group Ltd. to The Economist Group.
Much Shelist, P.C. served as legal counsel to Trio Video. ###
About Trio Video
Since its inception in 1982, Chicago-based Trio Video has earned an industry-wide reputation for excellence. Today, Trio is the leading mobile television production company in the Midwest and operates in the U.S. and Canada. Trio provides facilities and crews that even the most demanding clients count on – whether the broadcast is network, cable or independent; whether the event is sports, entertainment or corporate.
Headquartered in Pittsburgh, Pennsylvania, and portfolio company of American Securities, NEP 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.
About American Securities
American Securities is a leader in middle-market private equity with one of the most consistent track records in the industry. American Securities’ goal is to build upon the profitable heritage of companies in which the firm invests in order to create world-class enterprises. American Securities accomplishes this by providing management partners with operational support to facilitate the execution of long-term growth strategies. American Securities has cumulative committed capital of over $8 billion, and invests in companies with revenues ranging from $200 million to $2 billion.