NEP Broadcasting acquires Trio Video LLC
Livingstone is pleased to announce that Trio Video LLC has been acquired by NEP Broadcasting LLC, a portfolio company of American Securities. Livingstone served as the exclusive financial advisor to Trio.
Headquartered in Chicago, Trio Video is a highly-regarded provider of mobile HDTV production facilities. The Company primarily serves Comcast SportsNet Chicago and WGN-TV, who together are the local television rights-holders for the Chicago Bulls, Cubs, White Sox, and Blackhawks. The Company also serves national TV networks, such as ESPN and FOX Sports, and is the largest provider of mobile production facilities for telecasts and HDTV web streaming of music festivals such as Lollapalooza, Coachella and Bonnaroo.
“We founded this company on a shoestring budget 30 years ago. The past few years we started getting approached by a number of suitors. We felt the time had come to investigate the best way to find a partner going forward. Livingstone did a great job taking us to market in a niche business,” said Manager and Co-Founder of Trio, Gary J. Meagher. “We are thrilled that industry leading NEP has chosen us to join their group of brands. It’s a great match of very complementary companies.”
“Trio has spent three decades building and establishing one of the most reputable mobile production facilities companies in the industry. We’re proud to have helped Trio find the right long-term solution and to post another successful sale to a strategic buyer for an important client,” added Livingstone Chicago Partner Steve Miles.
The sale to NEP follows recent notable transactions involving top-branded local Chicago companies including Goose Island Beer Co., Genuine Scooters, and ATI Physical Therapy. In addition, this is the second Media & Technology transaction closed by Livingstone in a week following the sale of UK-based TVC Group Ltd. To The Economist Group.