The media services company Broadcast Facilities Incorporated (BFI), which is owned by the private equity firm Wasserstein & Company, has bought the satellite services division of the Atlanta-based Crawford Communications.
Financial details of the deal…
The media services company Broadcast Facilities Incorporated (BFI), which is owned by the private equity firm Wasserstein & Company, has bought the satellite services division of the Atlanta-based Crawford Communications.
Financial details of the deal were not disclosed, but a joint statement did say that the hedge fund Tennenbaum Capital Partners financed the transaction. Tennenbaum has previous experience in the satellite sector having owned a stake in satellite broadband provider WildBlue prior to its sale to ViaSat.
BFI owns the Andrita Media Centre in Los Angeles, and the acquisition of the Crawford unit means that is now has a strong presence on the East Coast of the US.
The deal enlarges BFI’s business to a substantial degree. Whereas the Andrita Centre uplinks 35 cable channels, Crawford Communications’ satellite business uplinks more than 70 whole networks. Crawford Satellite Services (CSS) has around 335 employees compared to BFI’s 80.
Along with its network origination business, CSS also offers occasional-use satellite uplinks, mobile satellite uplink trucks, centralcasting services to broadcasters including NBC Universal, broadband connectivity to international clients and video provision to the US military.
BFI was formed in 2008 by current CEO Simon Bax and COO Bill Tilson, with support from Wasserstein & Company. CSS was always an acquisition target for BFI, which hopes to expand the new combined entity into international markets.
“We have always had the highest regard for the team at Crawford, the technical innovations that they have implemented, and their unique customer focus,” said Bax, CEO of BFI. “By combining our resources, and our West and East Coast locations, we will now be able to provide a more comprehensive range of services for our clients.”
BFI retains the right to use the Crawford Satellite Services name for another year, after which it will likely rebrand the combined West Coast/East Coast entity.
