(Reuters) -Ultimate Fighting Championship (UFC) owner Endeavor Group Holdings said on Tuesday it will sell its sports-training boarding school IMG Academy to private equity firm EQT’s Asian unit in an all-cash deal valued at $1.25 billion.
The deal comes just days after Endeavor’s mixed martial arts franchise UFC said it would combine with World Wrestling Entertainment Inc to form a new, publicly listed entertainment giant valued at about $21 billion, uniting two of the biggest names in wrestling and entertainment.
The IMG Academy deal will see the institution partner with EQT’s portfolio company Nord Anglia Education, which operates some of the world’s leading premium international schools in 33 countries.
Athletes who trained at the academy include Venus Williams, Serena Williams and Andre Agassi.
The buyer, BPEA EQT, said it sees opportunities in the academy’s international expansion, including in Asia, and in broadening its educational offering.
Florida-based IMG Academy provides sports training to athletes in its over 600-acre campus, as well as online coaching and recruiting assistance for young athletes. It has placed more than 30,000 students into college sports rosters in 2022.
The boarding school has more than 1,400 full-time students, with an additional 15,000 athletes participating in camps throughout the year.
Endeavor does not report results for IMG Academy, but revenue from its Events, Experienced And Right segment rose nearly 21% in 2022.
The deal is expected to close in the third quarter of 2023, the companies said.
(Reporting by Nivedita Balu in Bengaluru; Editing by Krishna Chandra Eluri, Subhranshu Sahuand and Devika Syamnath)
