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

Attempt Group Holdings has sold the sports education institute img Academy for a division of the private equity firm EQT.

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

This deal is not EQT’s first in the agency space. Last year, the company invested in UTA, making 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 in 33 countries with a student population of over 75,000 and ties up with educational organizations including MIT and Juilliard to provide specialized curriculum for students.

Headquartered in Bradenton, FL, img academy Established in 1978 as the Nick Bollettieri Tennis Academy. IMG acquired it in 1987, and later added sports such as golf, soccer, baseball, basketball, football, lacrosse, track and field, and volleyball. Since acquiring IMG in 2014, Endeavor has expanded the Academy’s on-campus and online offerings.

Today, IMG Academy operates a sport-focused boarding school, sports camps, online coaching and online college recruitment, serving more than 100,000 sport-oriented students. More than 30,000 IMG students have earned a spot on college sports rosters in 2022.

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

Endeavor President and COO Mark Shapiro said the academy is “in a class of one for combining elite athletics and academics” and added that it is in “great hands” with BPEA EQT.

“The IMG Academy brand is recognized globally and we look forward to leveraging BPEA EQT’s insight from leading Nord Anglia Education’s growth in the region to support its international expansion and broaden its educational offering, including in Asia We see a compelling opportunity for this,” said Jack Hennessy, Partner & Company. – Education Head of the advisory team of BPEA EQT.

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

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