Endeavor Group Holdings, Inc. (NYSE: EDR), a global sports and entertainment company and parent company to IMG Academy, in Bradenton, has entered into a definitive agreement to sell IMG Academy, a 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, according to a statement from Endeavor. The two companies anticipate the deal will close in the third quarter of this year, the statement said.
As part of the transaction, the business is expected to partner with BPEA EQT’s portfolio company Nord Anglia Education, which 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 and The Juilliard School to provide specialized curriculum for students.
Headquartered in Bradenton, Florida, IMG Academy was founded in 1978 as the Nick Bollettieri Tennis Academy.