Private equity firm EQT is buying a stake in United Talent Agency from investment group Investcorp in a deal expected to close later this month. UTA said the move recognizes its “artist-first approach and recent growth trajectory and will help fuel the next phase of investments in talent, innovation and international expansion.”
Under the transaction, the UTA partnership and leadership will continue to hold the controlling interest in the company, with EQT becoming the largest outside shareholder.
Financial terms weren’t revealed, but Investcorp said the sale “will represent a highly successful investment for Investcorp and its institutional investors.”
Investcorp bought into UTA in 2018 alongside the Public Sector Pension Investment Board and other institutional co-investors. Since then, UTA has more than tripled its EBITDA, a kind of operating earnings, through organic growth and acquisitions.
Investcorp supported UTA’s management team as they expanded their services and geographic footprint as it entered sports representation through its acquisition of KLUTCH Sports, digital influencer management through its acquisition of DBA and brand consulting through its acquisition of MediaLink. The Company also entered the European market through its recent acquisition of Curtis Brown Group.
“Our partnership with Jeremy Zimmer and the management team was outstanding and demonstrates our commitment to working closely with our companies to help them achieve their strategic objectives,” said Dave Tayeh, Head of Private Equity – North America at Investcorp. “We are proud to have been part of UTA’s consistent innovation and substantial growth over the past four years and we look forward to their continued success. Our North American Private Equity business will continue to invest in exceptional founder-led companies.”
“Working with Investcorp and Dave Tayeh has been a great experience for the leadership at UTA,” said Jeremy Zimmer, CEO and Co-Founder of UTA. “They have supported our growth in every way and were a thoughtful and steady hand as we navigated the pandemic. I’m grateful to them and look forward to achieving continued success in future partnerships.”
