Daily News: March 22, 2012

Livingstone Advises on Sale of Trio Video to NEP Broadcasting


Livingstone announced 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. Terms of the deal were not disclosed.

Headquartered in Chicago, Trio Video is a provider of mobile HDTV production facilities. The company primarily serves Comcast SportsNet Chicago and WGN-TV, which 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 one of the largest providers 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 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-tech transaction closed by Livingstone in a week following the sale of UK-based TVC Group Ltd. to The Economist Group.

Much Shelist, P.C. served as legal counsel to Trio Video.

Headquartered in Pittsburgh, PA, and portfolio company of American Securities, NEP is an international provider of outsourced teleproduction services critical to the delivery of live sports and entertainment events.

Livingstone is an independent, international investment banking firm focused on M&A, capital raising and special situations transactions with values up to $500 million.