Private equity firm PAI Partners has made a binding offer to purchase Euro Media Group (EMG), provider of audiovisual facilities and services. EMG’s founders and original shareholders, including Sofinim (Ackermans & van Haaren group) and Banijay Holding, will reinvest alongside PAI Partners in the proposed transaction, together with the senior management team.
“This Partnership with PAI is a major step for EMG and will benefit both our customers and employees,” explained Thierry Drilhon (pictured), EMG’s CEO. “This is a tremendous opportunity for our group to accelerate our international development, increase our capacity to deliver new services, capture new business opportunities in the market and develop our leadership around innovation.”
Created in 1983 EMG offers a range of services to broadcasters and producers for the production and delivery of audiovisual content including studios, outside broadcasting trucks, media centres and specialised services. EMG provides audiovisual services for large events, such as the recent Winter Games, the Fifa World Cup, the Tour de France and the Monaco Grand Prix.
Nicolas Holzman, partner at PAI, commetned: "PAI is proud to become the majority shareholder of EMG and to partner with its management team and main shareholders. Our common goal is to enable EMG to reinforce its European leadership, through further acquisitions and the development of new services, and become a truly integrated group with best in class financial performance.”
The offer and transaction remain subject to certain conditions, and are expected to be finalised in the second quarter of 2014.