A $700m equity investment led by new partner 26North, along with the completion of a comprehensive refinancing, strengthens NEP’s position in the global media services and live events industries.
NEP Group, a global media services and technology partner for content producers, has announced a new equity investment led by 26North Partners LP (26North), alongside a consortium of co-investors. Existing sponsor Carlyle is participating in the investment and will remain NEP’s largest shareholder.
Founded in 2022 by Josh Harris, 26North is a next-generation alternatives platform with a diverse investment portfolio spanning sports and entertainment. Harris, who also serves as the Founder and Managing General Partner of Harris Blitzer Sports & Entertainment and Managing Partner of the Washington Commanders, brings a distinctive perspective that aligns closely with NEP’s expertise at the crossroads of media production and live events.
In tandem with the new investment, NEP completed a comprehensive debt refinancing, supported by its performance and global client base. The refinancing strengthens NEP’s capital structure, reduces debt, and positions the company for sustainable long-term growth.
For over four decades, NEP has been the trusted partner behind some of the world’s most iconic live productions — from major sporting events such as the Super Bowl, the Olympics, the World Cup, Wimbledon and The Masters Tournament to globally recognised entertainment events including the Eurovision Song Contest, the Oscars, The Voice and large-scale corporate productions for Fortune 500 companies and world summits like NATO.
These recent milestones will enable NEP to accelerate investments in global operations, product innovation and strategic partnerships, expanding its ability to deliver advanced, market-ready solutions for clients worldwide.
Martin Stewart, CEO of NEP Group, said the completion of this transaction underscores conviction in the company’s future. “We’re thrilled to take NEP to the next level with outstanding capital partners at our side. Josh brings exceptional expertise in creating one of the world’s leading sports and entertainment portfolios, and he and the 26North team have a proven track record of growing businesses across industries. We also couldn’t be more pleased to have earned the continued trust and support of Carlyle.
“We remain committed to investing in our people, technology and dynamic facilities to deliver the innovation, scale and reliability that our clients have relied on for 40 years. We’re beginning our next 40 years with great momentum.”
Mark Weinberg, Head of Private Equity at 26North, added: “We’re excited to work with Martin, his leadership team, and Carlyle to build on the strong foundation they’ve created. NEP represents the kind of business we seek to invest in: a global market leader with a stellar reputation for service delivery, technical expertise and innovation that keeps customers coming back for compelling storytelling around their most important events and experiences.”
Advisors on the transaction included Goldman Sachs, Latham & Watkins LLP, and Debevoise & Plimpton LLP for NEP; RBC Capital Markets, Greenhill, a Mizuho affiliate and Kirkland & Ellis LLP for 26North. Barclays and Goldman Sachs also acted as lead advisors on the refinancing.
