NEP Group has announced the acquisition of full-service Swedish production company HDR.
The agreement became effective on June 17, 2019, and the deal is expected to close in early Q3 or Q4 of this year, conditional upon the approval of the Swedish Competition Authority.
Prior to closing, NEP and HDR will continue to operate as separate and independent companies. Once the deal has closed, HDR will operate as NEP. Financial details of the deal have not been disclosed.
Founded in 2007, HDR currently has more than 100 employees who support clients in the live sports, entertainment and broadcast markets in Sweden, Norway, Denmark and Finland.
NEP said the addition of HDR is consistent with its stated strategy to become the world leader in Broadcast Services and Media Solutions and increases NEP’s ability to serve its clients in the Nordic region and worldwide. The acquisition provides NEP’s European divisions growth opportunities through the addition of HDR’s broadcast centres and studio footprint in the region, as well as opportunities in the reality and unscripted live TV market.
“This acquisition will be great for our clients in Europe and globally,” said Mike Werteen, global president, NEP Broadcast Services. “Adding HDR’s resources to NEP’s gives us the ability to offer the ‘best of the best’ in innovative technical solutions, talent and resources, led by strong local management teams.”