Production Resource Group Will Acquire XL Video
Production Resource Group has agreed to acquire the XL Video Group, one of the largest providers of multi-market video services.
“By combining XL Video with PRG, we are creating a tremendously valuable resource for event and entertainment producers anywhere in the world”, said PRG Chairman and CEO Jeremiah J. Harris.
He added, “The integrated company will be able to offer an exceptional breadth of production technologies and depth of industry expertise.”
XL Video, founded in 1995, is a multi-award winning provider of creative video solutions for concert touring, corporate events, exhibitions, automotive, television, sports and theatre.
Like PRG, XL Video supports creative designers and producers with full technical support in putting together cutting-edge video solutions for some of the most innovative and aesthetically daring shows in the world.
For PRG’s worldwide clients, this acquisition expands their access to the wide range of creative video technology and services that they already enjoy, according to company officials.
Upon completion, XL Video’s worldwide locations will become part of PRG’s network of over 40 locations in key cities around the world.
“As XL Video, we have worked on some of the largest and highest profile concert tours, television shows, automotive and corporate events around the globe,” said Lucas Covers, group CEO of XL Video.
He added, “We have established a client base that has become more sophisticated in their expectations of the standard of video production. As part of PRG, we will continue to exceed their expectations and raise the bar on video production.”
Stephan Paridaen, PRG’s Global president and CEO, added, “PRG and XL Video are extremely well positioned to provide a multi-disciplined, integrated solution. Making the XL Video team part of the PRG family, will be extremely beneficial to our clients and this has been our top priority from the start.”
The transaction is expected to close before the end of the second quarter subject to customary closing conditions.