Grass Valley Completes $220 Million Strategic Refinancing

Grass Valley, a provider of live production solutions, and a portfolio company of private equity firm Black Dragon Capital, have completed a $220 million strategic refinancing led by certain investment funds managed by Morgan Stanley Private Credit. The strategic refinancing “will both strengthen the company’s balance sheet and refinance existing debt, while further positioning Grass Valley to lead the reimagination of the future workflow for media through its Grass Valley Media Universe (GVMU) suite of solutions,” the company said.

It added: “The refinancing serves to extend the momentum from an incredibly successful 2023, both operationally and financially, for Grass Valley. Operationally, the company completed its planned business transformation, having simplified the organizational structure, made key new appointments across the leadership team, optimized its global footprint, and focused the product portfolio to align with the changing media landscape.

“The business transformation allowed the company to further extend its significant investments in software and integrated hardware solutions as part of the most advanced cloud-native media platform in the industry.”

Grass Valley’s Chairman-CEO Louis Hernandez Jr., said: “The media industry is still in the early stages of defining the future of live production workflows and this investment further allows Grass Valley to accelerate our market leadership in support of this industry-wide transition. With our surging performance from 2023, and now a stronger balance sheet, we intend to accelerate innovation across our entire portfolio, most notably in the AMPP ecosystem, as we begin to scale deployments across our global customer base.”