WWE’s parent company-to-be Endeavor has reportedly sold a sports training school for $1.25 billion.
On April 3, WWE announced that the company had entered an agreement with Endeavor that would see plans to merge WWE and UFC under a new publicly-traded entity. This agreement is expected to be closed in the second half of the year.
According to THR, Endeavor has sold IMG Academy to the Hong Kong-based equity investment company BPEA EQT. The deal is valued at $1.25 billion.
IMG Academy is reportedly an expected partner with Nord Anglia Education, EQT’s portfolio company that operates a network of 80 international schools once the transaction’s completion. IMG Academy’s executive team is expected to stay on in their roles after the sale is completed.
In a statement regarding the sale, President and COO of Endeavor, Mark Shapiro wrote the following:
“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.”
“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, added the following:
“We are deeply impressed by IMG Academy’s unique offering and its world-class sports and well-being 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.”
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