NEP Group plans incremental borrowings for Mediatec purchase

By Sara Rosenberg

New York, March 26 – NEP Group Inc. received a commitment for incremental borrowings to help fund its acquisition of Mediatec Group, according to a news release.

Barclays is the lead on the debt.

Other funds for the transaction will come from the assumption of Mediatec’s existing debt and additional cash contributed by funds managed by Crestview Partners in exchange for common equity, as well as equity contributions by NEP management.

The transaction is expected to be deleveraging on both a first-lien and total debt basis, the release said.

NEP is a Pittsburgh-based provider of outsourced teleproduction services critical to the delivery of live sports and entertainment events. Mediatec is a Sweden-based provider of integrated technical solutions for event and television productions.

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