NEP Group to acquire production specialist HDR
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Editor
| 26 June 2019

Expanding its broadcast and media solutions capabilities in Europe and worldwide, leading global live sports and entertainment outsourced technical production firm NEP has signed a definitive agreement to purchase HDR Group.

A full-service production company headquartered in Stockholm, HDR was founded in 2007 and today employs more than 100 employees who support clients in the live sports, entertainment and broadcast markets in Sweden, Norway, Denmark and Finland.

The acquisition agreement became effective on 17 June 2019 and is expected to close in by the end of 2019, conditional upon the approval of the Swedish Competition Authority. Prior to closing, NEP and HDR will continue to operate as separate and independent companies. After a brief transition period following closing, HDR will become part of NEP and will go to market as NEP.

NEP regards the addition of HDR is consistent with its stated strategy to become the world leader in broadcast services and media solutions and increases its ability to serve its clients in the Nordic region and worldwide. In I addition NEP sees the acquisition as providing NEP’s European divisions with growth opportunities through the addition of HDR’s broadcast centres and extensive 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.”

“This is a great cultural fit,” commented NEP Europe president Paul Henriksen. “Our organisations share similar values and are founded on service-oriented cultures that are centred on delivering exceptional results through innovative solutions. We have a great deal of respect for HDR’s work and their team.”

“I’m proud of what we’ve accomplished in only a little more than a decade,” added HDR CEO Mats Dahlström. “We’re excited about joining the NEP Worldwide Network as the next step in our evolution. Being a part of a high-quality organisation will be a tremendous benefit to our staff and our clients.”