EndeavorGroup Holdings has sold sports educational institutionIMGAcademy to a division of private equity firm EQT.
The deal is not EQTs first in the agency sector.
Last year, the company made an investment in UTA that made it the agencys largest outside shareholder.
Former NBA basketball player Kenny Anderson, star of the film “Mr. Chibbs,” visits the IMG Academy during the 2017 Sarasota Film Festival.John Parra/Getty Images for Sarasota Film Festival
BPEA EQT invests in education, healthcare, and technology in North America, Europe and the Asia-Pacific region.
After acquiring IMG in 2014, Endeavor has expanded the academys on-campus and online offerings.
More than 30,000 IMG students earned places on college sports rosters in 2022.
As part of this transaction, Richard will continue as president of IMG Academy.
The Raine Group acted as financial advisor to Endeavor on the transaction.
Latham & Watkins LLP acted as legal advisor to Endeavor.
