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Barclays, GE Capital Among Lenders in Crestview Partners’ Acquisition of NEP

December 27, 2012, 07:05 AM

American Securities and Crestview Partners announced that Crestview has acquired NEP Broadcasting and its affiliates from American Securities. Financial terms of the transaction were not disclosed however a press release noted Barclays, Morgan Stanley and GE Capital are providing financing for the transaction.

NEP is an international provider of outsourced teleproduction services critical to the delivery of live sports and entertainment events.

Jeff Marcus , partner at Crestview and head of the firm's media strategy, said, "We have followed NEP's performance since 2006 and have the highest respect for the company and their management team.  We are delighted to have management as significant investors alongside us, and look forward to working together to continue NEP's success in this next stage of growth."

For American Securities, the sale caps nearly six years of partnership with the company's management team and significant accomplishments by NEP over this period. Since American Securities' acquisition in February 2007, NEP has grown both revenue and its employee base by over 75%.

Kaye Scholer LLP acted as legal advisor and Barclays, UBS and AGM acted as financial advisors to NEP.  Paul, Weiss, Rifkind, Wharton & Garrison LLP and Kirkland & Ellis LLP acted as legal advisors and Morgan Stanley acted as financial advisor to Crestview Partners.

With advanced equipment and the largest fleet of mobile units and global production studios to suit every genre, NEP enables its clients to execute, deliver, and display exceptional productions on any platform around the world.  For more than 30 years, NEP has ensured its clients' success by delivering superior service and building lasting relationships with a passion for continuous innovation.

Based in New York with an office in Shanghai, American Securities is a U.S. private equity firm that invests in market-leading North American companies with annual revenues generally ranging from $500 million to $2 billion.  American Securities has over $8 billion under management and is currently investing from its sixth fund.

Founded in 2004, Crestview Partners is a value-oriented private equity firm based in New York with approximately $4 billion of capital under management.  The firm is led by former partners and leaders in the private equity business and senior management of Goldman Sachs and Morgan Stanley.  Crestview's investment strategy is focused in the media, financial services, healthcare and energy sectors.

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