Endeavor Sells IMG Academy To Division Of Private Equity Firm EQT In All-Cash Deal Valued At $1.25 Billion

Dade Hayes
·2 min read

Endeavor Group Holdings has sold sports educational institution IMG Academy to a division of private equity firm EQT.

BPEA EQT is teaming on the deal with Nord Anglia Education, one of the companies in its investment portfolio. The parties expect the all-cash transaction, with an enterprise value of $1.25 billion, to close in the third quarter.

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The deal is not EQT’s first in the agency sector. Last year, the company made an investment in UTA that made it the agency’s largest outside shareholder.

BPEA EQT invests in education, healthcare, and technology in North America, Europe and the Asia-Pacific region. Nord Anglia Education operates 82 international schools with a population of more than 75,000 students in 33 countries and has ties with academic organizations including MIT and Juilliard to provide specialized curricula for students.

Headquartered in Bradenton, FL, IMG Academy was founded in 1978 as the Nick Bollettieri Tennis Academy. IMG acquired it in 1987, and subsequently added sports like golf, soccer, baseball, basketball, football, lacrosse, track & field and volleyball. After acquiring IMG in 2014, Endeavor has expanded the academy’s on-campus and online offerings.

Today, IMG Academy operates a sports-focused boarding school, sports camps, online coaching, and online college recruiting, serving more than 100,000 sports-playing students. More than 30,000 IMG students earned places on college sports rosters in 2022.

“Our purpose is to empower student-athletes to win their future, preparing them for college and for life,” IMG Academy President Brent Richard said in a press release. “BPEA EQT and Nord Anglia are ideal partners to achieve and accelerate those goals, and we are excited for that future.”

Endeavor President and COO Mark Shapiro said the academy “is in a category of one for its combination of elite athletics and academics” and said it is in “great hands” with BPEA EQT.

“IMG Academy’s brand is globally recognized and we see compelling opportunities in supporting its international expansion, including Asia, and broadening its educational offering, leveraging BPEA EQT’s insights from having led Nord Anglia Education’s growth in the region,” said Jack Hennessy, Partner and Co-Head of Education within BPEA EQT’s Advisory Team.

As part of this transaction, Richard will continue as president of IMG Academy. Tim Pernetti will remain President of IMG Academy Bradenton; as will Lisa Strasman, President of NCSA; and Ted Sullivan, Chief Growth Officer.

The Raine Group acted as financial advisor to Endeavor on the transaction. Latham & Watkins LLP acted as legal advisor to Endeavor.

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