Morgan Stanley Private Credit Leads $220 Million Recapitalization for Grass Valley
21 Marzo 2024 - 7:00AM
Business Wire
Recapitalization will accelerate growth and lead the
reimagination of workflow for media technology provider after a
promising 2023
Morgan Stanley Private Credit (“MSPC”) announced today that
several of its investment funds have led a $220 million
recapitalization for Grass Valley, a leading media technology
company that provides end-to-end solutions for the live media and
entertainment industry. This strategic transaction will strengthen
the company’s balance sheet and further accelerate investments in
software and integrated hardware solutions as part of one of the
most advanced cloud-native media platforms in the industry.
Grass Valley is helping to lead the future of live production
solutions by enabling streamlined workflows through the Grass
Valley Media Universe (GVMU), which includes the AMPP SaaS
Platform, an open ecosystem delivering significant advantages with
flexibility across on-prem, hybrid or cloud native deployment
models. With this recapitalization, Grass Valley will accelerate
its investment across the combined GVMU integrated hardware and
software solutions, enabled by AMPP, further extending its
leadership across live, networking, content production, and playout
workflows.
“We are pleased to be Grass Valley’s financing partner and
support the company in its next phase of growth,” said Peter Ma,
Managing Director, Morgan Stanley Private Credit. “This debt
investment is an example of our ability to provide a flexible
capital solution tailored to meet Grass Valley’s needs, positioning
the business for significant future success.”
Commenting on the investment, Grass Valley’s Chairman and CEO,
Louis Hernandez Jr., said: “This recapitalization serves to
accelerate Grass Valley’s growth coming out of a successful 2023.
We had our strongest year since 2020 for live production and
networking infrastructure hardware. Earnings increased over 100%,
revenues nearly doubled thanks to a significant increase in
recurring revenue with AMPP, and we hired hundreds of employees
globally. This investment will accelerate Grass Valley’s innovation
across their entire portfolio during an industry-wide transition
period, particularly in the AMPP ecosystem.”
About Grass Valley
Grass Valley is the leading media technology provider for the
media and entertainment industry. Trusted by the world’s top media
brands, Grass Valley is empowering content producers to deliver
great live experiences through best-in-class hardware and software
solutions that improve efficiency and reduce costs. Supporting
customers across the globe, Grass Valley is at the forefront of
groundbreaking media innovation and continues to create the future
of live media production. Headquartered in Montreal, Grass Valley
has been engaged in the media technology business for over 60
years. For more information about Grass Valley, go to
grassvalley.com.
About Morgan Stanley Private Credit
Morgan Stanley Private Credit, part of Morgan Stanley Investment
Management, is a private credit platform focused on direct lending
and opportunistic private credit investment in North America and
Western Europe. The Morgan Stanley Private Credit team invests
across the capital structure, including senior secured term loans,
unitranche loans, junior debt, structured equity and common equity
co-investments. For further information, please visit the website:
morganstanley.com/im/private-credit
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version on businesswire.com: https://www.businesswire.com/news/home/20240320372548/en/
Morgan Stanley: Alyson Barnes (212) 762-0514
mediainquiries@morganstanley.com Grass Valley: Bénédicte Fauveau
benedicte.fauveau@grassvalley.com
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