December 22, 2014 (Pittsburgh)
NEP Group Inc. (‘NEP’) announced today that it has acquired Faber Audiovisuals (Faber). Financial terms were not disclosed. The transaction will bring Faber, based in the Netherlands, into NEP’s worldwide network of brands. NEP is headquartered in the United States with locations in the UK and Australia.
NEP is one of the largest broadcast and live event service companies in the world, offering solutions for outside broadcast, studio production, video display and host broadcast, supporting thousands of shows each year. The acquisition of Faber will extend NEP’s video display capabilities into Europe and the broader international market.
“Faber has an exceptional reputation for service and is a clear leader in the industry. I am excited to work with Cees Faber to continue to expand our international display business. Together, we will be able to offer a greatly expanded pool of resources, a greater depth of expertise and a broader geographical reach – enhancing the service that both of us are able to offer our clients,” says NEP CEO, Kevin Rabbitt.
Faber is a leading European company providing solutions for complete audiovisual productions. They serve clients in the sport, music and corporate markets supporting productions of all sizes. Recently, Faber took over the rental division of Mitsubishi Electric Europe in the UK and opened outlets in Dubai and the United States, greatly expanding their reach around the globe.
Faber will remain an independent operating entity, based in the Netherlands, led by Cees Faber and his management team.
Cees Faber, President of Faber, adds, “This will be a great transition for Faber clients, staff and partners. As part of the NEP Worldwide Network, Faber will have access to a much broader pool of resources, which will greatly support our growth internationally. I am excited to work with Kevin and the NEP team to continue to expand the business.”
With the acquisition of Faber, NEP offers over 80 high-definition (HD) outside broadcast units; several HD flypacks, smaller camera systems and other audio visual packages; studio facilities in Los Angeles, New York, Connecticut, London, Sydney, and Melbourne; thousands of plasma, LED, and projection video display solutions; a fleet of mobile LED trucks; as well as a large team of industry-leading engineering and technical experts. For more information, visit www.nepinc.com.
Previously, Faber Audiovisuals was owned by Faber management and Foreman Capital. Through this transaction, NEP has acquired the entire business. NEP is majority-owned by Crestview Partners with a significant ownership stake held by NEP’s management team.
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Faber Audiovisuals is an audio-visual rental company, based in the Netherlands, with outlets in Dubai and the USA, that is committed to growth and further development of its activities. Faber is a third-generation family business. Since 2007 the company has grown 30% annually and is currently a market leader in the European rental market of audio-visual equipment. Faber operates all around Europe, with a focus on the Netherlands, Germany, England and France. Outside of Europe, Faber is active in Dubai (private branch), Brazil and the USA. Faber focuses on the temporary rental of LED screens (in total: 4,500 m2) and other audio-visual-related equipment for sports, corporate events, TV, concerts and other general events. Faber also provides permanent rental of the LED advertisement boards that can be seen along the sides of Dutch Eredivisie football pitches.
About Foreman Capital
Foreman Capital was established in 2005 and is an independent, European investment company that focuses on companies that are active in trading, production and services. Foreman Capital invests exclusively using the capital made available by the team and is located in Amsterdam. Through the combination of active involvement, long-term focus and the investment of proprietary capital, Foreman Capital bears the hallmarks of a classic investment company. In addition to funding, Foreman Capital is committed to providing expertise to its portfolio companies, without limiting the scope of their services to only the provision of capital, like many other firms. Foreman acts as an ‘involved investor’ while striving to establish invaluable collaborative relationships with existing management teams.
About Crestview Partners
Founded in 2004, Crestview Partners is a value-oriented private equity firm based in New York. 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, energy and healthcare sectors.
NEP provides the technology and know-how to enable clients to produce the world’s most prestigious live and broadcast events around the globe. The company is the leading worldwide provider of outsourced production solutions offering technical services for remote production, studio production, video display, host broadcasting, post production, premium playout, smart asset / media management, and multi-screen delivery. NEP’s more than 3,000 employees are driven by passion and a focus on technical innovation, and together they have supported productions in over 85 countries on all seven continents. NEP is headquartered in the United States and has offices in 21 countries.