UTA Gets New Investor As Private Equity Firm EQT Buys Stake From Investcorp

Private equity firm EQT is buying a stake in United Talent Agency from investment group Investcorp and others in a deal expected to close later this month. UTA said the move recognizes its “artist-first approach and recent growth trajectory and will help fuel the next phase of investments in talent, innovation and international expansion. ” Under the transaction, the UTA partnership and leadership will continue to hold the controlling interest in the company, with EQT becoming the largest outside shareholder.

Financial terms weren’t revealed, but Investcorp said the sale “will represent a highly successful investment for Investcorp and its institutional investors. ” It’s been a period of rapid transition in the agency business with CAA acquiring ICM Partners last month for $750 million. Endeavor went public just over a year ago.

Related Story ‘Shazam! Fury Of The Gods’ Actor Jack Dylan Grazer Signs With UTA Investcorp bought into UTA in 2018 alongside the Public Sector Pension’s Investment Board and other institutional co-investors. The deal calls for Investcorp to sell its full minority stake to EQT. EQT will also purchase a portion of existing stakes from continuing shareholders including PSP Investments.

Over the past four years, UTA more than tripled its EBITDA, a kind of operating earnings, through organic growth and acquisitions. “We are proud to have been part of UTA’s consistent innovation and substantial growth over the past four years and we look forward to their continued success. said Dave Tayeh , Investcorp’s head of private equity for North America.

UTA’s expansion includes entering sports representation through its acquisition of Klutch Sports, digital influencer management through its acquisition of DBA and brand consulting with MediaLink. It entered the European market through its recent purchase of Curtis Brown Group. Over four years, the number of UTA employees has almost doubled to nearly 1,900.

Jeremy Zimmer, CEO of UTA, called EQT “the perfect partner for UTA’s next phase of growth. They have deep international capabilities, a strong balance sheet, and most importantly they truly appreciate and respect the culture that we have built at UTA. David Kramer and I led this process, and we made sure to listen to our instincts about who we felt would really help us drive growth while protecting our culture.

We believe that we found the right partner to maintain that balance. ” A person familiar with the deal said that as part of the transaction, everyone at UTA will benefit financially. Kasper Knokgaard, EQT Partner and Global Head of the Services Sector Team, said, EQT invests in “industry leading platforms that are well situated for strong and sustained growth across economic cycles, are aligned with our values, and where we know we can create significant value – UTA checks all the boxes.

” “We are proud to have been part of UTA’s consistent innovation and substantial growth over the past four years and we look forward to their continued success. said Dave Tayeh , Head of Private Equity – North America at Investcorp. .