Linklaters advises on the acquisition of IMG Academy by BPEA EQT
Linklaters advised the arrangers and lenders on the debt financing for the acquisition by investment firm BPEA EQT of Florida-based sports education institution, IMG Academy, for an enterprise value of US$1.25bn.
Closed in late June, this is a first-of-its-kind transaction in which an Asian bank financing was used to fund the acquisition of a US target with no immediate nexus to Asia.
Founded in 1978 through the Nick Bollettieri Tennis Academy, IMG Academy is the world’s leading sports education brand supporting over 100,000 student-athletes across its suite of sports education services.
The Linklaters team was led by Hong Kong SAR-based banking partner Alessandro Nolet, with support from associates Ilaria Bertolazzi and Angelo Salis. The cross jurisdictional team also included New York-based banking partner Danelle Le Cren, tax partner Michelle Lo and counsel Mark Dawson, with support from associate Mario Lercari.
Linklaters’ banking partner Alessandro Nolet commented:
“Linklaters has long-standing experience working with leading multinational banks and financial sponsors on their strategic transactions. We are honoured to have the opportunity to support our clients on this significant transaction in the education sector and congratulate all parties involved.”