In a deal that will further expand the country's largest mobile production company, NEP is acquiring Chicago-based Trio Video.
Terms of the deal were not disclosed.
The companies had a long history of working together prior to the acquisition and NEP will maintain the Trio brand. Trio's four HD mobile production trucks will become part of NEP's fleet and its engineering and support staff will be integrated into NEP's operations.
Trio's co-founders, Gary Meagher and Jack Walsh, will also stay on to help run the Trio. In the near term, NEP will maintain Trio's Chicago facility, with operational functions coordinated out of NEP's headquarters in Pittsburgh.
"This acquisition was a great fit for both companies," noted NEP's CEO Kevin Rabbitt in a statement. "Both NEP and Trio have similar cultures, rooted in supporting our talented people as they deliver superior service to our clients. Trio's reputation for excellence in regional and national sports, as well as concert tours and music festivals, compliments NEP's existing business. The addition of Trio combined with the unmatched depth of resources at NEP will enhance our ability to serve both NEP's and Trio's clients."
"We are thrilled to join the NEP team," added Gary Meagher, co‐founder of Trio Video in a statement. "It will bring our clients expanded access to the best resources and support in the business, and will offer our business and staff incredible opportunities."
NEP is owned by American Securities, a private equity firm headquartered in New York.