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Eqt

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business1 year ago•4 min saved

EQT Consortium Offers €1.5B Takeover Bid for Believe

A consortium consisting of EQT, Denis Ladegaillerie, and TCV has launched a $1.64 billion takeover bid for Believe, a music company. The consortium has secured agreements to acquire around 75% of Believe and plans to make a cash tender offer for the remaining 25%. If the acquisition is approved, the consortium aims to re-privatize the company and consolidate the independent music market. Believe is set to announce its fiscal results for 2023 in March and expects organic revenue growth of 14% YoY and an adjusted EBITDA margin slightly above 5.5% for the year.

via Music Business Worldwide|

#believe #business #eqt

business2 years ago•1 min saved

Endeavor sells IMG Academy for $1.25B to private equity firm.

Endeavor Group is set to sell sports-training school IMG Academy to private equity firm EQT's Asian unit in an all-cash deal worth $1.25 billion. The deal will see IMG Academy partner with EQT's portfolio company Nord Anglia Education, which operates premium international schools across 33 countries. The sale comes just days after Endeavor's mixed martial arts franchise UFC agreed to combine with World Wrestling Entertainment Inc. The deal is expected to close in Q3 2023.

via Reuters|

#bpea #business #endeavor-group

business2 years ago•2 min saved

Endeavor Group Sells IMG Academy for $1.25 Billion to Private Equity Firm EQT

Endeavor Group Holdings has sold IMG Academy to a division of private equity firm EQT for $1.25 billion. The deal is expected to close in the third quarter. EQT is teaming up with Nord Anglia Education, one of the companies in its investment portfolio. IMG Academy operates a sports-focused boarding school, sports camps, online coaching, and online college recruiting, serving more than 100,000 sports-playing students.

via Deadline|

#bpea #business #endeavor