Exhibit 99.1
ENDEAVOR ENTERS AGREEMENT TO SELL IMG ACADEMY TO
BPEA EQT, IN PARTNERSHIP WITH NORD ANGLIA EDUCATION, FOR $1.25 BILLION
Nord Anglia Education to partner with IMG Academy to collaborate and innovate for companies’ combined 175,000+ students
BEVERLY HILLS, Calif. (April 25, 2023)—Endeavor Group Holdings, Inc. (NYSE: EDR), a global sports and entertainment company, today announced it has entered into a definitive agreement to sell its subsidiary IMG Academy, a leading global sports education institution, to BPEA EQT, part of the leading global private equity group, EQT, in partnership with Nord Anglia Education. The all-cash deal reflects an enterprise value of $1.25 billion. The two companies anticipate the deal will close in the third quarter of this year.
BPEA EQT is part of one of the world’s largest private equity firms, EQT, with core investments in education, healthcare, and technology across North America, Europe, and Asia-Pacific. As part of the transaction, the business is expected to partner with BPEA EQT’s portfolio company Nord Anglia Education, which operates some of the world’s leading premium international schools. Nord Anglia supports more than 75,000 students across 82 schools in 33 countries, and has developed key partnerships with academic organizations including the Massachusetts Institute of Technology (MIT) and The Juillard School to provide specialized curricula for students.
“Our purpose is to empower student-athletes to win their future, preparing them for college and for life,” said Brent Richard, President of IMG Academy. “We are constantly trying to raise the bar in pursuit of that purpose through our on-campus and online experiences. Simultaneously, our staff is passionate about growing the impact we have on the world, reaching more families, and helping them on their journey. BPEA EQT and Nord Anglia are ideal partners to achieve and accelerate those goals, and we are excited for that future.”
Headquartered in Bradenton, Florida, IMG Academy was founded in 1978 as the Nick Bollettieri Tennis Academy. IMG acquired the Academy in 1987, and subsequently added golf as its second sport followed by programs for soccer and baseball and ultimately basketball, football, lacrosse, track & field, and volleyball. Endeavor acquired IMG in 2014, inclusive of IMG Academy, and has notably expanded both its on-campus and online offerings.
IMG Academy today supports the entire student-athlete development journey via a sports-focused boarding school, sports camps, online coaching, and online college recruiting that serve in total more than 100,000 student-athletes. A clear leader in the large and growing sports education market, IMG Academy helped place more than 30,000 students into college sports rosters in 2022.
“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. “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.”
Jack Hennessy, Partner and Co-Head of Education within BPEA EQT’s Advisory Team, said, “We are deeply impressed by IMG Academy’s unique offering and its world-class sports and wellbeing curriculum. 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.”
