Outside broadcast giant the NEP Group has agreed a £124m takeover of audio visual equipment and services provider Avesco, which owns events business Creative Technology and services company mclcreate.

The deal will to add scale to NEP’s live events business in the UK.

NEP chief executive Kevin Rabbitt said: “The addition of Creative Technology and the other Avesco brands is consistent with our stated strategy of becoming the worldwide live events services leader through expansion of our geographic reach and service offering.”

In September Avesco sold Presteigne Broadcast Hire to the company’s management team and at the start of the year it sold the site occupied by Fountain Studios to a property developer.