HAMBURG: Global private equity investment firm H.I.G. Capital, LLC has signed a definitive agreement to acquire Lagardère Sports agency in a transaction from the Lagardère Group. The Lagardère Group will retain a minority shareholding of 24.9%. The transaction is subject to clearance by the relevant antitrust authorities.
Following the closing of the transaction, the agency will not only be rebranded, but also led by a new CEO, Stefan Felsing, who is a former employee.
The development takes forward the announcement made by the French media conglomerate in December 2019, of plans to sell 75% of Lagardère Sports to the Miami-based private equity firm in a deal valuing the agency at approximately €110 million ($122.6 million).
“The global sports marketing segment is a multibillion Euro industry with attractive long-term growth prospects fueled by the continuously increasing popularity of sports and the digitization of sports marketing services. H.I.G. is looking forward to drive the business to the next level together with a truly global management team,” commented Christian Kraul-von Renner, managing director at H.I.G.
Felsing added: “I am looking forward to returning to a former place of work in the context of my new responsibilities. Lagardère Sports has enormous potential, particularly given the Company’s unique culture and the long-standing trusted partnership with its customers. Together with H.I.G., a strong and experienced investor, we are ideally positioned to continue building on these great assets. We are ready to leverage the full potential of the firm.”
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H.I.G. Capital to acquire 75% of Lagardère Sports
