UTA Fuels Expansion With Private Equity Investment From EQT
[ad_1]
UTA CEO Jeremy Zimmer speaks throughout the 15th Yearly Chrysalis Butterfly Ball in 2016
United Talent Company has identified a new expense money companion.
A fund operated by private equity agency EQT Companions has built a strategic expense in UTA, in a offer the agency suggests “will aid gasoline the up coming section of investments in talent, innovation and worldwide enlargement.”
EQT will turn into the premier outside the house shareholder in UTA through the offer, which will also see the Stockholm-based mostly business obtaining stakes from some of UTA’s current buyers, which include Investcorp and PSP Investments. Unique conditions of the offer, like its valuation, ended up not disclosed but UTA partnership and leadership will stay the managing shareholders of the agency.
“EQT is the best husband or wife for UTA’s subsequent phase of expansion. They have deep global capabilities, a powerful harmony sheet, and most importantly they genuinely value and respect the tradition that we have designed at UTA,” mentioned Jeremy Zimmer, CEO of UTA, who co-launched the agency in 1991 and has assisted increase its expertise representation across Television set, film, tunes, sports activities, digital media, publishing, podcasts and far more.
UTA has been through a dramatic strategic expansion over the earlier couple decades, together with the acquisition of Uk-primarily based publishing and expertise agency The Curtis Brown Team this June and the acquire of MediaLink, a major strategic advisory business for entertainment and media companies, in December 2021. In 2019 UTA created a strategic investment decision in Klutch Sporting activities Group. The amount of workforce at the enterprise has virtually doubled to just about 1,900 personnel during the earlier 4 decades.
Kasper Knokgaard, EQT associate and worldwide head of the company’s providers sector team, said, “EQT invests in marketplace major platforms that are properly positioned for powerful and sustained advancement throughout financial cycles, are aligned with our values, and where by we know we can generate considerable value—UTA checks all the packing containers. We are excited to husband or wife with Jeremy Zimmer and the overall team to accelerate UTA’s expansion trajectory and permit far more chances across enjoyment and media.”
The transaction is predicted to close later on this month. UTA was advised by Moelis
MC
[ad_2]
Resource backlink