NEP Completes Acquisition of Avesco Group
4th January 2017 – NEP Group, Inc. acquires Creative Technology’s parent company Avesco.
Based in Pittsburgh, USA, NEP is one of the world’s largest outsourced production partners supporting premier content producers across the broadcast and live events industries.
Alongside Creative Technology (CT), NEP operates four other Live Events businesses focused on Large Screen Display. These comprise Faber AudioVisuals and Mediatec Solutions in Europe along with Screenworks and Sweetwater in the US. All businesses are expected to retain their existing identities.
Dave and Graham jointly commented “Avesco has grown over the last 30 years from small beginnings into a major international media services group. Joining the NEP group will open a new chapter in the future of CT with access to increased resources and leadership focus. NEP share the same values as Avesco and we have witnessed other businesses, operated by peers that we hold in high regard, flourish under their ownership. We have been working with NEP on the plans for the business for some time now and are confident we will retain and develop CT’s unique culture and exceptional delivery whilst further building and strengthening our service provision. We look forward to the opportunities we know this deal will bring to CT and, above all, to the people within the business. They are the lifeblood of what we do.”
The senior management teams will remain unchanged with Graham Andrews leading CT’s US and Asia Pacific businesses.
Dave Crump will continue to lead CT’s UK, Spanish and Middle East operations and will in due course take over management of the Mediatec Solutions business in the UK and the Faber AudioVisuals business in the Middle East. CT’s operations in Holland and Germany will fall under the leadership of Cees Faber.
Kevin Rabbitt, CEO of the NEP group commented. “The acquisition of the Avesco Group, and specifically CT, adds significant scale and depth to NEP’s Display Group operations. CT’s geographic and market presence is extremely complementary to NEP’s existing operations and accelerates many of our strategic objectives. CT’s business and leadership team strengthen and significantly broaden our existing business adding additional services including corporate audio and lighting activities in many key locations. Avesco have built an exceptional business over the last 30 years and we look forward to building on that achievement and creating new opportunities for the team at CT.”