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Endeavor Holdings Group will sell IMG Academy, a school for elite athletes, to BLEA EQT, a private equity firm, and Nord Anglia Education.
BRADENTON, FL — Endeavor Holdings Group will sell IMG Academy, a Bradenton-based school for elite athletes, for $1.25 billion to BPEA EQT, a Hong Kong-based private equity firm, and Nord Anglia Education, according to a news release.
Endeavor purchased the school’s parent company, IMG, for $2.4 billion in 2014, the Tampa Bay Business Journal reported. Since then, IMG Academy has generated $83 million in revenue each year.
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The school, founded in 1978 as the Nick Bollettieri Tennis Academy, was bought by IMG in 1987. Today, the 500-acre campus has about 1,400 full-time students at its boarding school and also works with another 15,000 student-athletes each year through camps, online coaching and recruiting assistance. The school has produced a number of college and professional athletes over the years.
Asia is IMG Academy’s largest source of international students, BPEA EQT said in its news release. With the purchase of the school, the firm will focus on overseas expansion opportunities in various markets, including Singapore, India, Vietnam, Greater China and Indonesia.
“We are deeply impressed by IMG Academy’s unique offering and its world-class sports and well-being curriculum,” Jack Hennessy, partner and co-head of education within BPEA EQT’s advisory team, said. “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.”
Nord Anglia Education, which has seen significant international growth in the past 15 years with 82 schools in 33 countries, will adopt IMG Academy’s sports and well-being curriculum once the sale has closed, which is expected by the third quarter of this year.
BPEA EQT also said it plans to invest in the school’s technology and diversification of sports, with a goal of broadening its pool of athletes and attracting more female student-athletes.
“Our purpose is to empower student-athletes to win their future, preparing them for college and for life. We are constantly trying to raise the bar in pursuit of that purpose through our on-campus and online experiences,” Brent Richard, president of IMG Academy, said. “Simultaneously, our staff is passionate about growing the impact we have on the world, reaching more families, and helping them on their journey. BPEA EQT and Nord Anglia are ideal partners to achieve and accelerate those goals, and we are excited for that future.”
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