Thomson Broadcast Signs Agreement to Acquire GatesAir
Published May 16, 2022
Meridian Capital Advises Thomson Broadcast on its Acquisition of GatesAir
Meridian Capital LLC (“Meridian”), a leading Seattle-based middle-market investment bank and M&A advisory firm is pleased to announce that Thomson Broadcast has signed a definitive agreement to acquire GatesAir from an affiliate of The Gores Group (“Gores”). The transaction is subject to certain regulatory filings and is expected to close in the second half of 2022.
For more than 100 years, Thomson Broadcast has forged extensive experience in the fields of Digital Terrestrial Transmission (DTV) and AM Radio, including DRM. Thomson Broadcast is an international French company well known in the broadcast sector. Over the past two years, Thomson Broadcast has received awards for providing exceptional DTT turnkey solutions to large-scale digital migration projects in Africa.
“In 2018, we have set the goal to establish ourselves in the US Market. With Thomson Broadcast and GatesAir now united, these two companies will make us stronger in America and globally as well,” said Ylias Akbaraly, Chairman of Thomson Broadcast.
“Thomson Broadcast and GatesAir together can bring innovative and revolutionary products to the broadcast industry in the centuries to come,” said Aby Alexander, President of Thomson Broadcast USA.
“We are delighted to have reached this point,” said Amine Oubid, CEO of Thomson Broadcast. “From the start we were excited to work with the GatesAir team and saw the obvious fit of the two companies. The transaction closing can’t come fast enough for us. We’re very proud to participate in the rallying of two century-old companies and excited to start working together.”
GatesAir is a renowned company in the Broadcast industry with a history of powering over-the-air networks worldwide with unparalleled reliability over the past 100 years. GatesAir has recently seen strong growth, coming off a very successful participation in the North America Spectrum Repack program.
“GatesAir is already an undisputed leader in the broadcast industry, and our combination with Thomson Broadcast will create a combined company of larger scale even better suited to meet the ever-evolving needs of our customers all over the globe,” said Bruce D. Swail, CEO of GatesAir. “I am very proud of the GatesAir team for its stewardship of and innovation in this industry over the past century and look forward to entering the next 100 years as an even stronger business leveraging the strengths of two legendary broadcast brands.”
“Meridian Capital’s hands-on approach helped us execute on a key strategic priority of ours. This transaction is a testament to their ability to tackle complex situations, providing us with guidance and support every step of the way” said Aby Alexander, President of Thomson Broadcast USA. “Meridian was able to help us generate significant interest from a handful of capital partners who wanted to support the transaction and we ultimately chose to partner with Brigade Capital Management due to their thoughtful, solutions-oriented approach.”
Patrick Ringland, Managing Director and Head of the Technology Practice at Meridian stated, “We couldn’t be more pleased for the Thomson Broadcast and GatesAir teams, which under this partnership will create the clear market leader that’s best positioned to serve an even wider array of customers.”
Meridian served as the exclusive M&A advisor to Thomson Broadcast and also arranged the debt financing for the transaction through the placement of senior secured credit facilities with Brigade Capital Management, LP (“Brigade”), a leading global credit asset management firm with $30 billion under management. Peyrot & Associates, PC, Sheppard, Mullin, Richter & Hampton and PwC also served as advisors to Thomson Broadcast. Brigade was represented by McGuire Woods LLP.
About Thomson Broadcast
Thomson Broadcast, headquartered in Paris, France and US operations based in West Palm Beach, FL US. Thomson Broadcast has deployed more than 50,000 equipment’s in more than 170 countries, actively participating in the evolution of television and radio transmission. Through the development of the Pulse Step Modulation (PSM) in Radio and creating the automatic Digital Adaptive Pre-Correction (DAP), Thomson Broadcast has largely contributed to shaping the transmission market in both TV and radio. All these have led to the success in winning multiple awards and gaining more than 50 patents in technologies that have become fundamental to the broadcast industry.
Visit us at www.thomsonbroadcast.tv for updates and news. You can also find us on:
GatesAir, Inc. provides complete solutions for over-the-air radio and television broadcasting, leveraging wireless spectrum to maximize performance for multichannel, mission-critical services. Powering over-the-air networks worldwide with unparalleled reliability for 100 years, GatesAir’s turnkey solutions enable broadcasters to create, transport and transmit radio and TV content. With customers in more than 185 countries, the company leads the industry in innovation and design breakthroughs, improving efficiency and reducing total cost of ownership with all products designed and assembled in the USA. Visit www.gatesair.com for more information, Like us on Facebook https://www.facebook.com/gatesair, and follow us on Twitter at @GatesAir.
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About Meridian Capital
Founded in 1995, Meridian Capital is a Seattle-based M&A advisory firm, advising business owners on complex corporate finance, M&A and strategic challenges for over 26 years. The firm differentiates itself through its deep industry insights, highly customized service approach, and end-to-end commitment to execution. With a unique combination of professionals with financial, transactional, and operational expertise, Meridian offers the depth and breadth of experience required to serve leading middle market companies in multiple sectors including aerospace & defense, business services, consumer, diversified industrials, food & beverage, technology, and telecommunications.