NEP Group acquires the Swedish production company HDR
The full-service production partner HDR Group has been acquired by NEP Group. The agreement became effective on June 17, 2019, but the deal will be closed in early Q3 or Q4 of this year when it receives approval from the Swedish Competition Authority. Before this scenario, both companies will continue to operate as independent corporations.
The acquisition reaffirms NEP Group’s will to strengthen its position in Europe. HDR, founded in 2007 and based in Stockholm (Sweden), today employs more than 100 employees who support clients in the entertainment, broadcast and live sports markets in Norway, Sweden, Finland and Denmark.
“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.”
“I’m proud of what we’ve accomplished in only a little more than a decade,” added Mats Dahlström, CEO of HDR. “We’re excited about joining the NEP Worldwide Network as the next step in our evolution. Being a part of a high-quality organization will be a tremendous benefit to our staff and our clients.”
After a transition period once the deal is completely closed, HDR will be integrated into NEP and will go to market after that name.