Forstmann Little funds have acquired the company from trusts established by IMG’s founder, the late Mark McCormack, and from the family of Arthur J. Lafave, Jr., IMG’s vice chairman.
Robert D. Kain and Alastair J. Johnston will continue to serve as co-presidents and co-chief executive officers of IMG.
Rothschild Inc. acted as the company's exclusive financial advisor in the transaction.
Gleacher & Company acted as Forstmann Little's financial advisor while Jones Day acted as counsel for IMG. Kirkland & Ellis LLP acted as counsel for Forstmann Little.
J.P. Morgan Securities Inc., BNP Paribas and National City Bank provided a working capital facility for IMG.
