NEP May Be Put Up for Sale for $2.5 Billion
Spokesmen for Crestview and Carlyle declined to comment while a representative for NEP didn’t respond to requests for comment.
Carlyle agreed to buy a minority stake in NEP in 2016 using capital from Carlyle Global Partners, a pool designed to hold companies for longer than the typical five-year time frame so it can double its investment. If Carlyle decides not to take control, it or Crestview could elect to sell to a third party, the people said.
Crestview has been a shareholder in the Pittsburgh-based company since 2012. NEP provides tele-production services for broadcast networks and production companies. The company works on a range of events including music festivals, live sports and television shows.