Live Mobile Group Acquires Lyon Video in Move to Expand National Presence
Live Mobile Group (a division of Live Media Group Holdings) has announced the acquisition of Ohio-based Lyon Video, a move that Brad Sexton, LMG, President & CEO, says will give the combined entity more scale and reach to be able to respond to client requests of more national events and broadcasts as well as more sports, entertainment, and festival work.
“The Lyon Video assets are phenomenal, their client base is great, and they have one of the most talented teams on the side of engineering and management,” says Sexton. “We see a great number of opportunities, especially as the industry as a whole is continuing to evolve, always looking for additional national companies to support their needs. Previously our focus has primarily been Los Angeles and Nashville but the addition of a large operation at Lyon’s Ohio based facility makes us more of a national player.”
Along with the truck and production assets comes an engineering and technical team that Sexton is excited to welcome the LMGH family.
“They are very experienced and have a great knowledge base with IP, 4K, and ways to make Remi and At Home Production more applicable,” says Sexton. “There is more pricing pressure across the industry than ever before and that has led to a lot of additional opportunities for new technologies and workflows. With that, there is a sweet spot for us to take our assets and push more into general entertainment and music events. I think beginning this summer there will very likely be a firehose of events as all industries try to catch up after all the cancellations during the pandemic.”
Founded in 1986, Lyon Video has 11 production trucks and 7 B-units as well as crewing support, flypacks and more. “This acquisition is an exciting move forward for Lyon Video,” adds Chad Snyder, president of Lyon Video. “By joining Live Media Group Holdings, we become part of a larger team dedicated to delivering live broadcast excellence. Our new home will allow us to expand our services and depth of offerings to our clients.”
Ardea Capital Partners and the Private Credit business within Goldman Sachs Asset Management (Goldman Sachs) led the investment round of Live Media Group Holdings. Marc Saiontz, CEO of Ardea Capital Partners (ACP) says Live Media Group Holdings is well positioned for continued growth across an industry that is continuing to evolve.
“We are very impressed with the management teams associated with all of the companies within the LMGH portfolio”, he adds.
Taylor Mefford, Managing Director at Goldman Sachs adds that “Live Media Group Holdings has a very unique consolidation, rollup strategy that will resonate within an industry that continues to look for new production and technology solutions.
Financial terms associated with the acquisition were not disclosed.