Apax Partners

NEP is the leading U.S. and U.K. provider of outsourced media services critical to the delivery of live sports and entertainment events. NEP is comprised of four divisions: “Supershooters”, “Screenworks”, NEP Image Group and NEP Visions Ltd. Given NEP’s performance record on high-profile events, NEP has developed close and trusting partnerships with its customers. A majority of NEP’s sales are contracted or recurring in nature, providing significant visibility into future performance.

The following is a brief description of each division:

NEP Supershooters: Supershooters provides mobile production facilities and engineering support, through its inventory of 25 trucks, for the remote broadcast of live sports and entertainment events. The division holds the leading market position in the high-end, premium (digital and high-definition television broadcasts) segment of the market. Supershooters’ largest customers include NBC, CBS, ESPN, ABC, NASCAR, Fox, The Golf Channel and World Wrestling Entertainment. NEP provides services to these customers under long-term contractual arrangements.

NEP Screenworks: Screenworks is the leading provider of large-scale LED screens and engineering support for major sports events, concerts, and other large, live-audience entertainment. With its inventory of over 700 screens and nine mobile trucks, Screenworks maintains a leading market share. The division’s top customers include NASCAR, The Rolling Stones Tour, WWE and various concert tours.

NEP Image Group: Studios is the largest independent provider of production facilities and services in New York City used for the production of television shows involving live studio offices. Through its nine studios in Midtown Manhattan, the division holds the leading market share of the New York independent studio market. Shows include: People’s Court, the Daily Show and Maury Povich.

NEP Visions Ltd.: The UK-based mobile production company of The Television Corporation, plc. Visions had the leading market position in the UK and Europe, in both the mobile broadcast and screens businesses.

Apax Partners acquired NEP at a time when the industry is shifting from standard definition to high definition broadcasting. As the leading player in the industry, NEP is positioned to capture a significant portion of this opportunity and continue to build on its market position. At the time of our acquisition, NEP had also identified several acquisition targets in both the U.S. and Europe that could immediately create value through synergies. Also, prior to our acquisition, NEP had grown to a size that created a need to further develop and strengthen the executive management team in order to fully capitalize on the opportunities that lay ahead.

In the first year of our ownership, Apax Partners was instrumental in shaping the strategic direction of NEP. We completed two strategic, add-on acquisitions in the first six months of the investment. We also divested the non-strategic Post business at Image Group to allow management to focus on growth in its core businesses. With respect to acquisitions, NEP acquired the high-end, contracted business and related assets from NEP’s largest U.S. competitor, National Mobile Television. The majority of the assets acquired were HD trucks, thereby strengthening NEP’s competitive position in the transition to HD. It also acquired additional contracts with its current customers, Fox and ESPN. NEP simultaneously acquired the UK-based mobile production company of The Television Corporation, plc. This acquisition gave NEP the leading market position in the UK and Europe, enhanced its ability to supply services to existing customers on a global basis and provides a platform for continued growth in Europe in both the mobile broadcast and screens businesses.

Apax also worked with the founders of NEP to hire Louis Borrelli as Chief Executive Officer. Prior to joining NEP, he served as COO of Marcus Cable, and more recently, as SVP of Broadband Distribution at AOL. Mr. Borrelli strengthens the Company’s leadership team through his extensive background in the cable broadcast and media industries.

Louis Borrelli, CEO. “Apax Partners is a great sponsor to have at the table as NEP continues to build on its global leadership position. They have been thoughtful partners who have been focused on bringing value to the table in support of the NEP and management team.”

Jackie Reses, Partner. “Our goal is to provide the capital and strategic support to the NEP management team to build their business. We have been very involved with them to pursue acquisitions and other strategic initiatives which the company has pursued and executed.”