INTERNATIONAL. Advent International, the global private equity firm, has acquired Sportfive, the leading European sports rights agency.
Advent International is the main shareholder in Sintres, the holding company that acquired 75% of Swiss travel retailer Dufry in February this year. The deal underlines the group’s immense acquisitional power.
Under the terms of the Sportfive deal, funds managed by Advent International, RTL Group and Goldman Sachs have formed a new company to purchase all of the Sportfive shares held by RTL Group and Groupe Canal+.
The transaction has been completed on the basis of the price announced on 19 March of €560 million (US$682 million) or €81.4 (US$99.16) per share.
Background on Advent International: Advent International is one of the world’s largest private equity firms, with US$6 billion in cumulative capital raised and offices in 13 countries across North America, Europe, Latin America and Asia Pacific.
Since its founding in 1984, Advent has invested in over 500 companies and has helped businesses raise US$10 billion through public equity and debt offerings. It claims particular expertise in 10 industries, one of which is retail. It maintains close shareholding links with Spanish and French travel-related concession companies Ãreas and Elior (fellow shareholders in Dufry).
Elior said earlier this month that it and Ãreas, together with majority Dufry shareholder Advent International, will soon give more precise details of their partnership in the travel retailer and their plans for its future.
MORE STORIES ON ADVENT INTERNATIONAL
Dufry deal valued “around US$200 million”; Advent closing in on more acquisitions? -04/03/04
Advent names Julian Diaz new Dufry CEO as acquisition is completed – 01/03/04
Advent International to acquire majority stake in Dufry – 09/02/04
