Notizie

Endeavor has struck a deal to sell Florida-based sports education institution Img Academy to private equity firm Bpea Eqt for $1.25 billion.

The all-cash transaction, done in partnership with Nord Anglia Education, is expected to close in Q3.

Located in Bradenton, Florida, Img Academy was founded in 1978 as the Nick Bollettieri Tennis Academy. The academy was purchased by Img in 1987 and eventually expanded its offerings to include golf, soccer, baseball, basketball, football, lacrosse, track & field and volleyball.

Endeavor acquired Img in 2014, with ownership of Img Academy included as part of that deal.

Img Academy currently boasts a sports-focused boarding school, sports camps, online coaching and online college recruiting that serve in total more than 100,000 student-athletes.

As part of Bpea Eqt’s acquisition, Brent Richard will continue as president of Img Academy, Tim Pernetti as president of Img Academy Bradenton, Lisa Strasman as president of Ncsa and Ted Sullivan as chief growth officer.

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.

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...

In a blockbuster sports deal, Endeavor says that it has agreed to sell its Img Academy sports education business to the private equity firm Bpea Eqt in a deal valued at $1.25 billion.

Img Academy assets include a campus in Bradenton, Florida, sports camps across the country and worldwide, and online coaching and college recruiting businesses. Endeavor acquired Img, which also includes events, media and licensing businesses, in 2014 for $2.3 billion.

Bpea Eqt is associated with Eqt, the Sweden-based private equity firm that is also the largest outside shareholder in UTA. Img Academy is expected to partner with Eqt’s portfolio company Nord Anglia Education, which operates a network of international schools, following the transaction. Img Academy’s executive team, including president Brent Richard, will stay on in their roles following the sale.

The company got its start in 1978 as the Nick Bollettieri Tennis Academy before being acquired by Img in 1987, and adding golf,...