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, basketball, baseball, football and other sports to its roster. Veterans of the academy, and its predecessors, include tennis stars Venus and Serena Williams, Andre Agassi, Maria Sharapova, and Boris Becker; professional soccer players Jozy Altidore and Landon Donovan; NBA stars like Josh Green and Anfernee Simons; as well as players in the MLB, NFL and other sports leagues.“IMG Academy is in a category of one for its combination of elite athletics and academics, as well as its legacy of developing superstar competitors in the game of life,” said Mark Shapiro, president and COO of Endeavor, in a statement. “We’re proud to have been stewards of this institution, driving growth and innovation, as well as expanding its facilities and offerings. IMG Academy is in great hands for its next chapter with BPEA EQT.”“We are deeply impressed by IMG Academy’s unique offering and its world-class sports and well-being curriculum,” added Jack Hennessy, partner and co-head of education within BPEA EQT’s advisory team. “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.”
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