PITTSBURGH – NEP Group is hitting the open market, as the company has announced that it has filed with the SEC for a proposed initial public offering of its common stock of up to $100 million. The number of shares and the price range for those shares has yet to bet determined.
A provider of outsourced live broadcast and production technologies, NEP Group was founded in 1986 and is headquartered in Pittsburgh, with offices in Europe, the Middle East and Australia. Earlier this year the company expanded north of the border with the launch of NEP Canada and acquired European companies Mediatec, Outside Broadcast and RecordLab. The company generated $451 million in sales over a 12 month period that ended March 31, 2015. Kevin Rabbitt currently serves as NEP’s CEO.
NEP Group initially filed confidentially on July 24, 2014.The SEC has yet to make the securities filed by NEP Group effective, which prevents any selling or purchasing of the securities.
Barclays and Morgan Stanley are acting as lead joint book-running managers for the offering, with Jefferies, Macquarie Capital and RBC Capital Markets also serving as joint book-running managers. Normura and Stifel are acting as co-managers.
NEP Group has applied to list its common stock on the New York Stock Exchange under the “NEPG” ticker symbol.
