PAI Partners to Acquire Euro Media Group
Created in 1983 as Euro Television by Chantal Barry, Jean-Pierre Barry and Luc Geoffroy, EMG offers a large range of services to broadcasters and producers for the production and delivery of audiovisual content: studios; outside broadcasting trucks; media centers; and specialised services such as ultra-slow motion, wireless transmission, aerial cameras or digital content management systems.
The Group has grown quickly, initially through acquisitions in France, including the State-owned Société Française de Production in 2001, and then in the rest of Europe, notably with the transformational merger with Dutch company UBF Media Group in 2007, which doubled the size of the Group, making EMG the leader in Europe with the largest fleet of outside broadcasting trucks and the largest studio capacity.
EMG is the first choice provider of audiovisual services for large events, such as the recent Winter Games, the Fifa World Cup, the Tour de France or the Monaco Grand Prix.
“This Partnership with PAI is a major step for EMG and will benefit both our customers and employees”, explained Thierry Drilhon, EMG’s CEO. “This is a tremendous opportunity for our group to accelerate our international development, increase our capacity to deliver new services, capture new business opportunities in the market and develop our leadership around innovation.”
Nicolas Holzman, partner at PAI, added: "PAI is proud to become the majority shareholder of EMG and to partner with its management team and main shareholders. Our common goal is to enable EMG to reinforce its European leadership, through further acquisitions and the development of new services, and become a truly integrated group with best in class financial performance.”
Jean-Pierre Barry, founder and Chairman of the Board, commented on the transaction: “Our policy for Euro Media Group has always been to focus on a dynamic, entrepreneurial growth path as we believe this is the only way to achieve a healthy balance sheet and safeguard jobs. This growth is driven by technological innovation and diversification as well as by business development through the addition of new activities and expanding our geographical presence.
“I am pleased to announce that following constructive negotiations we have reached agreement with PAI on a close partnership giving us access to new financial resources, which, I am convinced, will place our group a solid footing as we move forward with plans to accelerate our development. The future looks bright.”
The offer and transaction remain subject to certain conditions, including consultation of Euro Media France’s workers council and authorisation from the competition authorities in Brussels. The transaction is expected to be finalised in the second quarter of 2014.
EMG’s shareholders were advised by Banque Hottinguer, Bredin Prat and Ricol Lasteyrie. PAI was advised by Ernst & Young and Willkie Farr & Gallagher LLP.
About PAI Partners
PAI is a leading European private equity firm with offices in Paris, London, Luxembourg, Madrid, Milan, Munich and Stockholm. PAI manages €6 billion of dedicated buyout funds. Since 1994, PAI has completed 50 LBO transactions in 10 European countries, representing over €36 billion in transaction value. PAI is characterised by its industrial approach to ownership combined with its sector based organisation, Business Services being one of the sectors where it has long track record of successful investments. PAI provides portfolio companies with the financial and strategic support required to pursue their development and enhance strategic value creation.
About Euro Media Group
As the European industry leader, Euro Media Group is operating from 7 countries: France, Belgium, The Netherlands, Germany, United Kingdom, Italy and Switzerland. The Group provides its clients with a complete custom-made solution for the production and delivery of all Media content from broadcast through to on-line. As a technical integrator, the Group is active across the entire production process, handling every aspect from filming to content delivery.
Today, Euro Media Group is one of the few independent providers in Europe known worldwide for its technical expertise. Focused on new media, Euro Media Group is recognized for its wealth of experience in international sports, live performances and entertainment production. Offering a large range of services, advanced knowledge in technology and a strong ability to innovate, the Group provides clients with its specialist knowledge, delivering a high quality service.
The Group owns the largest range of studios (90 stages) and 80 mobile units, providing its customers with the largest collection of studios and fleet of mobile facilities in Europe.