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. BPEA EQT has investments 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.
Read more on deadline.com
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