NEP Group, a provider of outsourced teleproduction services for major events around the world, has agreed to buy HDR Group, a full-service production partner in Stockholm, Sweden. This deal expands Pittsburgh-based NEP’s broadcast and media solutions capabilities in Europe.
The deal is expected to close in the third or fourth quarter of this year, conditional upon the approval of the Swedish Competition Authority. Prior to closing, NEP and HDR will continue to operate as separate and independent companies.
Terms of the deal were not disclosed.
HDR, founded in 2007, has more than 100 employees who support clients in the live sports, entertainment and broadcast markets in Sweden, Norway, Denmark and Finland. The addition of HDR increases NEP’s ability to serve its clients in the Nordic region and worldwide.
After a brief transition period following closing, HDR will become part of NEP and will go to market as NEP.
NEP’s more than 4,000 employees have supported productions in 87 countries on all seven continents, and the company has operations in 24 countries.