On Location Experiences, the premium hospitality company part owned by the NFL, is close to being acquired by Endeavor (formerly WME-IMG) for between $650 (€577m) and $675m.
The ‘experiential’ company provides curated hospitality, ticketing, live event production and travel management services for over 150 rights-holders, including the NFL, the tennis grand slams and PGA of America. It has built out its capabilities in recent years, acquiring VIP concert experience company Future Beat last October and rival Prime Sport in December 2017.
Bruin Sports Capital and RedBird Capital own 30 per cent of the firm respectively while the Carlyle Group owns 10 per cent. The NFL holds a further 20 per cent which it plans to retain.
Sources indicate Endeavor thinks its traditional strength in athlete representation could help to realise cost synergies and unlock value at the company which offers athlete appearances to corporate hospitality clients and high net worth individuals among other services.
Should the sale go ahead it will represent brisk business for Bruin Sports Capital, the private equity firm founded by IMG’s former president of sports and entertainment George Pyne. It bought its 30-per-cent stake in On Location Experiences for $70m in April 2015.