NEP Group has reached an agreement with Catalyst Investment Managers to acquire GTV Holdings Pty Ltd (Global Television) in Australia.
Terms of the deal weren't disclosed but the acquisition will help NEP, which is already one of the world's largest television technical services providers, further expand operations into Australia and Asia.
Global Television handles the majority of premium live sport produced and broadcast in Australia, the companies say and it is involved in the production six of Australia's highest rated shows.
Global will remain an independent operating entity based in Australia, led by Keith Andrews and his executive team.
"Global Television has an outstanding reputation for excellence in live sports and light entertainment and is the clear leader in the Australian television market," said NEP CEO Kevin Rabbitt in a statement. "Together, NEP and Global Television offer a much broader pool of expertise, resources, and facilities and extend NEP's services worldwide, adding significant value for our clients and partners who work internationally. We are excited to work with Global's CEO Keith Andrews and his management team to continue to grow their business.”
NEP is majority-owned by private funds managed by Crestview Partners. NEP's management team also has a significant ownership stake.