Wrexham AFC Welcomes Apollo Sports Capital as a Minority Investor

Apollo
Multi-faceted investment fuels growth on and off the pitch, including major STōK Cae Ras redevelopment

WREXHAM, UK and NEW YORK – December 8, 2025 – Wrexham AFC and its Co-chairmen, Rob Mac and Ryan Reynolds, are excited to welcome Apollo Sports Capital, an affiliate of Apollo (NYSE: APO), a global alternative asset manager, as new minority investors in the Club. The investment aligns with Wrexham AFC’s long-term growth strategy and Premier League aspirations, with majority shareholders Mac and Reynolds continuing to oversee the Club as controlling owners.

As part of the investment, Apollo Sports Capital will also provide financing for the STōK Cae Ras, helping advance the ongoing redevelopment of the stadium, including the new Kop Stand. The redevelopment is a key component of the larger Wrexham Gateway Project, a large-scale regeneration plan to support the city’s connectivity and economic future. The project celebrates Wrexham’s heritage while creating an iconic destination for fans, visitors and the local community.

In a joint statement, Wrexham AFC Co-chairmen Rob Mac and Ryan Reynolds said, “From day one, we wanted to build a sustainable future for Wrexham Association Football Club. And to do it with a little heart and humor. The dream has always been to take this club to the Premier League while staying true to the town. Growth like that takes world-class partners who share our vision and ambition, and Apollo absolutely does. We have known Al Tylis, the CEO of Apollo Sports Capital, for many years and are thrilled to now have ASC join the Wrexham family as we take the next step forward together.”

Apollo Partner and Co-Portfolio Manager of ASC Lee Solomon said, “Wrexham is on an incredible journey, and we are thrilled to be a part of it and to support the Club, the Wrexham community and Rob and Ryan. This is a multi-faceted investment where Apollo Sports Capital can provide long-term, patient capital to help Wrexham reach its goals and to contribute to the ongoing revitalization of the facilities and local economy.”

Wrexham AFC CEO Michael Williamson said, “We’re delighted to welcome Apollo Sports Capital as a new partner in Wrexham’s journey. Their investment represents both confidence in the Club’s direction and commitment to our long-term vision. Together, we will continue to strengthen Wrexham AFC on and off the pitch, building a sustainable future for the Club for our supporters, our community, and the generations to come.”

The investment by Apollo Sports Capital follows a minority investment by the Allyn Family Office in October 2024, both reinforcing the Club’s sustainable growth plans. In the 2024/25 season, Wrexham AFC achieved a third straight promotion – a feat matched by only a few clubs in English football history – earning promotion into the EFL Championship.

About Wrexham AFC

Wrexham Association Football Club are based in Wrexham, North Wales, and after an historic, record-breaking three consecutive promotions are competing in the EFL Championship, the second tier of the English football league pyramid. Formed in 1864, they are the oldest Club in Wales and the third oldest professional team in the world. Wrexham have won the Welsh Cup a record 23 times and beaten some of the biggest clubs in the game in the English FA Cup and UEFA European Cup Winners Cup. The STōK Cae Ras, home to Wrexham AFC, is the world’s oldest international stadium that continues to host international games.

Wrexham AFC are owned by Rob Mac and Ryan Reynolds. The goal of the owners is to grow the team and establish Wrexham AFC as a Premier League club in front of increased attendances, and in an improved stadium, while making a positive difference to the wider community in Wrexham. This goal is being pursued through four guiding principles: i) to protect the heritage of Wrexham AFC; ii) to reinforce the values of the community; iii) to use Rob and Ryan’s resources to grow the exposure of the Club at home and abroad; and iv) to create a winning culture. For more information, please visit wrexhamafc.co.uk.

About Apollo

Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade credit to private equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of September 30, 2025, Apollo had approximately $908 billion of assets under management. To learn more, please visit www.apollo.com.

Contacts

Wrexham AFC: media@wrexhamafc.co.uk

Apollo: communications@apollosportscapital.com

Categories: News

Tags:

Atlético de Madrid to Welcome Apollo Sports Capital as Majority Shareholder

Apollo logo

The Club and leading global sports investor form long-term partnership to support continued growth under CEO Miguel Ángel Gil and President Enrique Cerezo

Miguel Ángel Gil, Enrique Cerezo, Robert Givone

From left to right: Miguel Ángel Gil, Enrique Cerezo, Robert Givone

MADRID and NEW YORK, Nov. 10, 2025 (GLOBE NEWSWIRE) — Atlético de Madrid and its major shareholders – Miguel Ángel Gil, Enrique Cerezo, Quantum Pacific Group and Ares Management funds – have reached an agreement for Apollo Sports Capital (‘ASC’), the global sports investment company of Apollo (NYSE: APO), to become the Club’s majority shareholder.

As part of the agreement, Mr Gil and Mr Cerezo will continue to lead Atlético de Madrid as Chief Executive Officer and President, respectively, and will remain shareholders, ensuring continuity of vision and leadership. Over the last two decades, Atlético de Madrid has become one of Europe’s most successful and recognized football institutions under Mr Gil’s and Mr Cerezo’s stewardship, achieving sustained sporting success, global brand growth and a strong community presence.

The investment by ASC will reinforce the Club’s position among football’s elite and support its ambition to deliver long-term success for millions of fans worldwide. As long-term investors, ASC and the existing shareholders will partner with Atlético de Madrid’s management to enhance the Club’s financial strength, sporting competitiveness and community impact.

The shareholder group intends to invest additional capital to support the Club’s long-term plans, including further investment in Atlético de Madrid’s teams and in major infrastructure projects. This includes the development of the Ciudad del Deporte, a new sports and entertainment district adjacent to the Riyadh Air Metropolitano stadium designed to serve as a world-class destination for sport, leisure, culture and community activity. Drawing on Apollo’s deep expertise across the sports, media and entertainment ecosystem, ASC aims to create a vibrant, transformative, multi-use urban hub serving the wider Madrid community.

Chief Executive Officer of Atlético de Madrid Miguel Ángel Gil said, “We are very proud to welcome a committed new partner to the club. Apollo Sports Capital is a powerful ally who respects the history, traditions and defining identity of Atlético de Madrid and its fans, while bringing additional strength and enthusiasm to help maintain our growth and competitiveness.”

Mr Gil added: “This exciting next phase will build on the model that has driven our progress in recent years, and Atlético would not be in the position it finds itself today without the support of Wanda Group, Quantum Pacific and Ares, whose backing has strengthened us at pivotal moments. Our achievements also reflect the dedication of our employees, the commitment from our players and coaches and, above all, the unwavering passion of our fans – the true heart and soul of the club.”

“Looking ahead, together we see significant opportunity to drive strong, sustainable growth of Atlético de Madrid as we build on our remarkable legacy. It was important to me to select a long-term investment partner who believes in our strategy and can enhance our activities off the pitch with the development of Ciudad del Deporte,” concluded Mr. Gil.

Apollo Partner and co-Portfolio Manager of ASC Robert Givone said, “Atlético de Madrid is one of Europe’s great sporting institutions and we are honored for Apollo Sports Capital to invest in this storied club and its more than 120-year heritage. Miguel Ángel has done a tremendous job transforming Atlético and it was important to us that we invest behind his continued leadership, in addition to investing in the team and the local community.”

Givone continued, “We’re excited to back the team and honor its spirit and traditions, and to add value in areas where we excel, such as growth of the Ciudad del Deporte and enhancing the fan experience. Supporting the ambitious plans for the sports city can create significant value for both the Club and the local economy.”

The investment by Apollo Sports Capital is subject to customary closing conditions, including regulatory approvals and is expected to be completed in Q1 2026. Upon close, Atlético de Madrid, including Atlético de San Luis and Atlético Ottawa, will be majority owned by Apollo Sports Capital alongside Mr Gil, Mr Cerezo, Quantum Pacific Group and Ares Management funds, as shareholders. Financial terms of the transaction were not disclosed.

Apollo Sports Capital is a global sports investment company and affiliate of Apollo. ASC invests across the sports and live events ecosystem, predominantly in credit and hybrid investment opportunities. Atlético de Madrid will be ASC’s flagship majority equity investment and is not part of a multi-club control ownership strategy. Other recent investments by Apollo Sports Capital include the Mutua Madrid Open and Miami Open tennis tournaments, in partnership with Ari Emmanuel and Mark Shapiro’s new company MARI. ASC is led by CEO Al Tylis, co-Portfolio Managers Rob Givone and Lee Solomon, and Chief Strategy Officer Sam Porter.

A&O Shearman acted as legal counsel to Apollo Sports Capital. ECIJA acted as legal counsel to Mr Gil and Mr Cerezo.

About Atlético de Madrid
Club Atlético de Madrid is one of Europe’s most prestigious football clubs and sporting institutions, with a long history of success since its foundation in 1903. The Club has a rich legacy of sporting excellence, winning multiple domestic and international trophies. Atlético’s greatest strength is its dedicated and passionate fan base in Spain and around the world, with a record-breaking number of Club members.

In the last decade, Atlético has established strong foundations for the future of the Club by investing in long-term projects, led by the opening of the Riyadh Air Metropolitano in 2017. Recognized as one of Europe’s elite stadiums, Atlético’s home is a first-class, multi-use venue which has created significant long-term value for the Club. The Riyadh Air Metropolitano will proudly host the UEFA Champions League final for the second time in 2027. The Club is now developing the ‘Ciudad del Deporte’, a unique and ambitious project to create a vibrant new district that will serve the local community and as a world-class destination for sport, leisure and tourism.

To learn more, please visit www.atleticodemadrid.com.

About Apollo
Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade credit to private equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of September 30, 2025, Apollo had approximately $908 billion of assets under management. To learn more, please visit www.apollo.com.

Contacts 

Atlético de Madrid
media@atleticodemadrid.com

Apollo
communications@apollosportscapital.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/309cb024-22a1-4545-a03f-6a6d98dcce4c

Categories: News

Tags:

Torrent Group to acquire majority stake in Gujarat Titans

CVC Capital Partners
  • Acquisition to mark Torrent Group’s foray into India’s rapidly growing sports sector
  • CVC Funds will continue to own a substantial minority stake in Gujarat Titans

Torrent Group (“Torrent”), a diversified conglomerate having interests in Healthcare and Energy sectors, through its holding company Torrent Investments Private Limited (TIPL), has entered into a definitive agreement to acquire majority stake of 67% in the renowned Indian Premier League (IPL) franchise, Gujarat Titans (Irelia Sports India Private Limited) from Irelia Company Pte Ltd (“Irelia”) – currently fully owned by funds managed or advised by CVC. The transaction is subject to customary closing conditions and approvals (including from BCCI).

As part of the deal, Irelia will retain a substantial minority stake of 33% in the franchise. This strategic partnership between one of India’s leading Business Groups and a globally renowned Private Equity firm, is the first of its kind in India’s sports sector and will unlock exciting opportunities for growth and collaboration.

Speaking on the occasion, Jinal Mehta, Director, Torrent Group, said, “It is a matter of great pride for us to welcome Gujarat Titans and millions of its passionate fans into the Torrent Group. As Sports continues to gain prominence in India, Torrent sees great potential in this rapidly growing sector. With the acquisition of a majority stake in the Gujarat Titans, we are excited to have the opportunity to elevate our fan experience and unlock new growth avenues in the years to come. We are committed to nurturing the Gujarat Titans team and creating a lasting legacy for everyone involved – our fanbase, the players and our employees. With a proven track-record of delivering high quality products and services across multiple sectors, Torrent is well-positioned to set new standards of excellence in the Sports industry through the acquisition of Gujarat Titans.”

We are excited to announce this deal, which marks the beginning of a new chapter in India’s most popular sporting event and our team Gujarat Titans

Siddharth PatelManaging Partner at CVC

Siddharth Patel, Managing Partner at CVC, commented: “We are excited to announce this deal, which marks the beginning of a new chapter in India’s most popular sporting event and our team Gujarat Titans. Our participation in Indian Cricket started strongly, securing the Gujarat franchise, winning the IPL title in our first season and emerging as runners up in our second season. Amit Soni, Partner at CVC, added, “We are delighted to be able to partner with Torrent, one of the most respected business groups in India. We are now very pleased to welcome the Torrent Group and look forward to unlocking new avenues for growth and development for Gujarat Titans and for the IPL in the years to come.”

CVC has a long history of investment in sports since our investments in Moto GP and Formula One, and we are extremely proud of how this investment in Gujarat Titans has developed.

Nick ClarryManaging Partner at CVC

Nick Clarry, Managing Partner at CVC, said, “CVC has a long history of investment in sports since our investments in Moto GP and Formula One, and we are extremely proud of how this investment in Gujarat Titans has developed. We particularly want to thank our fans, our management team, our players and the BCCI. Because of them, Gujarat Titans has become a leading franchise on and off the pitch, and together with the support of our wonderful fans, we expect this to accelerate with our new partners, Torrent.”

Categories: News

Tags:

Altor to partner with iconic hockey brand CCM Hockey

No Comments

STOCKHOLM/MONTREAL, October 2, 2024 – Altor Fund VI (“Altor”) has signed an agreement to acquire a significant majority stake in the iconic hockey brand CCM Hockey. CCM’s management will reinvest in the company. Altor will support CCM and existing management to accelerate and unlock growth opportunities in both current and new segments, products and markets. Altor’s track record of building world-class consumer brands and support to realize their untapped potential has attracted companies like the global fashion house Toteme, the winter sports brand Rossignol Group, and the audio powerhouse Marshall Group.

Established in 1899, CCM is a global hockey brand with a rich history of equipping the best hockey players in the world for over a century. Today, CCM is a leading designer, manufacturer and marketer of high-performance hockey equipment, accessories, figure skates and apparel. CCM has a presence in more than 40 countries and is represented by many NHL and PWHL superstars such as Auston Matthews, Sidney Crosby, Connor McDavid, Thatcher Demko and Sarah Nurse. In the Nordics, CCM has a long history of building Nordic champions like Jofa and Koho. The group will remain headquartered in Montreal, Canada, with operations in Canada, the United States, Europe and Asia.

“CCM is a fantastic company with an iconic brand and impressive history. We understand why sport lovers have turned to CCM for quality equipment for over a century. We are impressed by the durability and innovation that continues to keep the performance of their products at the forefront. We are excited to partner with the management team and accelerate the growth journey for CCM. Together we will continue the tradition of making sure that all players and goalies are represented in the best possible way in the sport they love.” says Andreas Källström Säfweräng, Partner and Head of the Consumer Sector at Altor.

“Over the years we have built a strong team, attracted loyal customers and placed products innovation at the center of our strategy to secure long term success. As we celebrate our 125th anniversary, we are entering an era where we will truly benefit from Altor’s long experience of backing renowned sporting and consumer brands and helping to unlock new growth opportunities. I am excited to join this partnership with Altor and reach the next levels on our growth journey together.” says Marrouane Nabih, CEO at CCM Hockey.

The transaction is expected to close by the end of 2024 and is subject to customary closing conditions, including necessary regulatory clearances.

About Altor

Since inception, the family of Altor funds has raised more than EUR 11 billion in total commitments. The funds have invested in just south of 100 companies. The investments have been made in medium-sized predominantly Nordic and DACH companies with the aim to create value through growth initiatives and operational improvements. Among current and past investments are Marshall, Rossignol, Toteme, Helly Hansen and Revolutionrace.

About CCM

CCM Hockey, a leading designer, manufacturer, and marketer of hockey equipment, and Jackson Ultima, a global leader in figure skate boots, blades and complete skates. With its headquarters located in Montreal, the company has operations in Canada, the United States, Europe and Asia. CCM Hockey equips more professional hockey players than any other company, including NHL and PWHL stars like Auston Matthews, Sidney Crosby, Connor McDavid, Thatcher Demko, Kendall Coyne-Schofield, Sarah Nurse, Taylor Heise and Erin Ambrose. CCM Hockey is also an official supplier of the PWHL, and the official outfitter of the American Hockey League, the Canadian Hockey League, and several NCAA and National teams.

Press contact

Karin Åström

Head of Communications

karin.astrom@altor.com

+46 707 64 86 59

Categories: News

Tags:

PlayOn! Sports and GoFan to Merge, Creating Leading Technology and Media Platform for High School Sports and Events

KKR

Combined company will offer best-in-class products and services to stakeholders across the high school sports landscape

ATLANTA, April 26, 2022 /PRNewswire/ — PlayOn! Sports, a leading high school sports media and technology company, and GoFan, a leading digital ticketing company in the high school sports market, today announced that they have entered into a definitive merger agreement. KKR, which joined Panoramic Ventures as an investor in PlayOn! earlier this year, is making an additional investment from its North America Fund XIII fund to support the strategic combination.

PlayOn!, founded in 2008, and GoFan, in 2001, have each strategically prioritized and made an impact in the high school sports and activities market. PlayOn! is best known for operating the NFHS Network, which provides live and on-demand content for high school sports and activities in all 50 states and Washington, DC. GoFan is a trusted digital ticketing provider for thousands of high schools and millions of fans nationwide. The NFHS Network is a joint venture with the National Federation of State High School Associations (NFHS) and its member state associations. GoFan is closely aligned with the NFHS as an official partner to 40 of its member associations and counting. Together, PlayOn! and GoFan provide streaming and digital ticketing services to nearly 10,000 high schools nationwide.

“We are excited to be joining forces with an industry leader like GoFan as we capitalize on our tremendous market opportunity and build a winning high school sports technology and media platform,” said David Rudolph, CEO of PlayOn!. “The combination of our highly complementary capabilities in ticketing and streaming creates a one-stop shop with unparalleled access and streamlined customer experiences for in-person, live-stream and on-demand events.”

“PlayOn! and GoFan have a common mission to elevate the event experience for high school administrators, coaches and fans, and today’s milestone will help us set the industry standard for school and fan engagement,” said B.J. Pilling, CEO of GoFan. “We are confident the combination of our teams will drive exponential value to our mutual state association and high school partners. We intend to tirelessly promote and market school events across the country to drive increased revenue through ticket sales and streaming.”

“We are pleased to further our investment in PlayOn! to support the strategic combination with GoFan,” said Ted Oberwager, Partner at KKR. “This transaction unites two mission-oriented teams with a shared vision for the future.”

“The merger of PlayOn! and GoFan brings together two leaders in high school streaming and ticketing. This combination will catalyze a new era of innovation for state associations, schools, and fans,” said Mark Buffington, Managing Partner of Panoramic Ventures. “As a long-time partner to both David and B.J., I am thrilled to see this combination come together. We have built a lot of value for our partners – the NFHS and its member State Associations and schools – and the next phase of our journey will create even more benefits for our stakeholders, including fans of high school sports and activity content.”

The transaction, which is expected to close in the second quarter of 2022, is subject to regulatory approvals and other customary closing conditions. Financial terms of the transaction were not disclosed.

About PlayOn! Sports
PlayOn! Sports was founded in 2008 with the purpose of honoring and celebrating the achievements of high school students, parents, coaches, and teachers in every community across the country. It is the nation’s leading high school sports media company and streams more live sports events than any other company in the world. PlayOn! is in its ninth year of operating the NFHS Network, a joint venture with the National Federation of State High School Associations (NFHS) and its member state associations. PlayOn! is responsible for the day-to-day operations of the NFHS Network, which delivers live and on demand high school events at www.NFHSnetwork.com and related apps. For additional information about PlayOn! Sports, please visit www.PlayOn!sports.com or follow PlayOn! Sports on LinkedIn.

About GoFan
GoFan is the largest professional digital ticketing and event management system for high schools and the trusted solution for more than 500,000 events nationwide. GoFan, closely aligned with the National Federation of State High School Associations (NFHS) and official partners with 40 of its member state associations, offers a digital ticketing solution for high school events from basketball and football games to school plays, dances, and debates. GoFan helps thousands of high schools across the country increase revenue, streamline their event execution, and reduce the hassle for their athletics and activities managers — no scanning, hardware or contact required, ultimately creating a better experience for the fan. Visit get.gofan.co for more information.

Media Contacts
PlayOn! Sports

Jessica Phillips
(404) 671-9529
media@PlayOn!Sports.com

GoFan
James Dickinson
(704) 756-3225
media@GoFan.co

SOURCE PlayOn! Sports

Categories: News

Tags:

Creation of the commercial subsidiary of the Ligue de Football Professionnel

CVC Capital Partners

The LFP and a company owned and financed by funds managed by the investment company CVC Capital Partners (“CVC”) announce the signing of an investment commitment agreement in connection with the creation of the LFP’s commercial subsidiary and CVC’s minority investment in its capital.

Following the competitive investor search process conducted by the LFP since autumn 2021 and its entry into exclusive negotiations with CVC on 18 March 2022, the LFP General Meeting held today unanimously approved the creation of the commercial subsidiary and the firm investment commitment by CVC for a total amount of €1.5 billion in its capital, intended to support the development of the entire French football ecosystem. Most of this financial contribution will be paid to professional football clubs, another part will be intended for amateur football, the reimbursement of the PGE contracted by the LFP in 2020, the constitution of a reserve fund and the seeding of the commercial subsidiary in order to give it the means to achieve its ambitions.

In return for its investment in the commercial subsidiary, CVC will hold a 13.0% stake in its capital, valuing the entire capital of the commercial subsidiary at €11.5 billion.

This new partnership is a continuation of the structural reforms undertaken by the LFP in order to transform and accelerate the development of French professional football. It reinforces the LFP’s ambition to reposition France on the world podium of football leagues in the medium term, both in terms of sport and economy. As a pioneer in sports investment, CVC will put its expertise, experience and relationships at the service of the LFP’s commercial subsidiary and support its business development ambitions.

The LFP would like to thank all the stakeholders who made it possible to implement this project, first and foremost the professional clubs of Ligue 1 and Ligue 2 who unanimously approved the project, as well as the French State and the French Football Federation. Their unwavering support for the LFP project show the unity of French football to engage in this ambitious development project.

The completion of the transaction is expected by the end of July 2022, after consultation with the LFP’s employee representative bodies and the fulfilment of the usual conditions precedent, including in particular the obtaining of authorisations from the competition authorities.

Vincent Labrune, President, LFP, said: “This project is a major step in the development of French football and a historic step forward for sport in France. We are delighted with this alliance with CVC, a partner that perfectly fits our project for Ligue 1 and for French professional football. Beyond having chosen the candidate with the best financial offer, we needed a partner who will help us grow our future projects and understands our DNA. CVC’s unique expertise in media and sport (F1, Moto GP, Six Nations, Volleyball, Football, etc.) was also a structuring point for us. In terms of governance and style, CVC will support the LFP, the commercial company and its leaders, who will benefit from its global network, to achieve the ambitious objectives we have set ourselves.

“We were also particularly sensitive to CVC’s ‘French Touch’. It is a European player with deeply French roots, able to offer a tailor-made approach adapted to our national challenges but also in all territories. For all these reasons, I am absolutely convinced that CVC will be a reliable, expert partner and up to our challenges in the months and years to come.

“Finally, I would like to thank personally and on behalf of French professional football the President of the Republic and his government for having made this project possible at the legislative level. I also do not forget the French Football Federation and its President, Noël Le Graët, for its constant support. Finally, and above all, I salute all the LFP teams for their unwavering commitment over the past 16 months to this project, and without which it would not have been possible.”

Categories: News

Tags:

PlayOn! Sports Announces Strategic Investment from KKR

KKR

New Strategic Partnership Alongside Founding Shareholder Panoramic Ventures to Accelerate Growth and Expansion of Leading High School Sports Media Company

ATLANTA & NEW YORK–(BUSINESS WIRE)– PlayOn! Sports (“PlayOn” or the “Company”), a leading high school sports media and technology company, and KKR, a leading global investment firm, today announced the signing of a definitive agreement under which KKR will make a significant investment in PlayOn, alongside PlayOn’s existing shareholder, Panoramic Ventures. The investment will support the Company’s growth as it continues to focus on building exceptional products and experiences for state associations, high schools, high school athletes and their fans across the country. Financial terms were not disclosed.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220201005320/en/

Founded in 2008, PlayOn is best known for operating the NFHS Network, which provides live and on-demand content for millions of high school sporting events across more than 27 sports and other high school activities in all 50 states and Washington, DC. The NFHS Network is a joint venture with the National Federation of State High School Associations (NFHS) and its member state associations.

In addition to helping fans and families watch their favorite teams wherever and whenever they want, the platform directly supports student athletics by providing a new revenue stream to participating high schools and state associations. The Company currently partners directly with almost 8,000 high schools across the U.S.

“We are pleased to welcome KKR as a new investor who shares our passion for high school sports and supports our vision for building the leader in high school sports media and technology,” said David Rudolph, founder and CEO of PlayOn. “KKR’s deep experience in building leading consumer technology and digital media businesses, along with our continued partnership with Panoramic Ventures, will be invaluable as we look for opportunities to make high school sports even more accessible to new fans and communities across the country. Our extensive relationships with the NFHS, state associations, and high schools will always be central to everything we do, and we will continue to remain focused on our long-term goal of streaming every high school event in the country.”

“PlayOn is empowering high school athletic programs and providing fans and families new ways to watch the games that matter most to them,” said Ted Oberwager, Partner at KKR. “We are inspired by PlayOn’s mission, and we are excited to join forces with Panoramic Ventures, the NFHS, and the talented PlayOn management team to continue to deliver best-in-class solutions for a rapidly growing and highly passionate audience.”

“We are excited to bring KKR on as a strategic investment partner to help fuel PlayOn’s next stage of growth,” said Mark Buffington, Managing Partner at Panoramic Ventures. “David and I have long believed that we are just scratching the surface with the opportunities that lie ahead of us. KKR’s investment allows us to create more products and extend more value to all the stakeholders we serve in the NFHS ecosystem.”

KKR is making its investment in PlayOn through its North American private equity strategy. The transaction is expected to close in the first quarter of 2022, subject to customary closing conditions.

Goldman Sachs & Co. LLC served as exclusive financial advisor to PlayOn and Nelson Mullins Riley & Scarborough LLP served as legal counsel to the Company. Kirkland & Ellis LLP served as legal counsel to KKR.

About PlayOn! Sports
PlayOn! Sports was founded in 2008 with the purpose of honoring and celebrating the achievements of high school students, parents, coaches, and teachers in every community across the country. It is the nation’s leading high school sports media company and streams more live sports events than any other company in the world. PlayOn is in its ninth year of operating the NFHS Network, a joint venture with the National Federation of State High School Associations (NFHS) and its member state associations. PlayOn is responsible for the day-to-day operations of the NFHS Network, which delivers live and on demand high school events at www.NFHSnetwork.com and related apps. For additional information about PlayOn! Sports, please visit www.playonsports.com or follow PlayOn! Sports on LinkedIn.

About KKR
KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of The Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

About Panoramic Ventures
Panoramic Ventures (formerly BIP Capital) is a venture capital firm based in Atlanta that takes a “wider-view” approach to investing by targeting the Southeast and Midwest and placing a focus on diverse founders and university startups. Panoramic opens new doors for overlooked founders, giving more entrepreneurs access to capital to build leading tech companies. For more information, visit www.panoramic.vc or follow Panoramic Ventures on LinkedIn, Instagram, or Twitter @panoramicvc.

Media:
For PlayOn! Sports:
Jessica Phillips
404-671-9529
media@playonsports.com

For KKR:
Cara Major or Julia Kosygina
212-750-8300
media@kkr.com

For Panoramic Ventures:
Kathy Berardi
678-644-4122
media@panoramic.vc

Source: KKR

Categories: News

Tags:

PureGym raises £300m equity investment to fund expansion

No Comments
KKR

December 14, 2021

Global investment firm KKR to become significant minority investor

14 December 2021, London – PureGym, a leading European gym operator, and KKR, a leading global investment firm, today announce that KKR will make a £300m equity investment in PureGym to support and fund PureGym’s ambitious expansion plans. KKR will become a significant minority investor in the business alongside management and Leonard Green & Partners (LGP), who retain a majority ownership position.

The PureGym Group reported strong Q3 results to bond investors in November with revenue ahead of the equivalent period in 2019 and profits bouncing back robustly from the challenges of the pandemic. The PureGym brand is now fully established in 40 sites in Switzerland, in Saudi Arabia where the first of many planned franchise sites are already open and trading, and will soon be in the US in three trial sites.

PureGym believes that the conditions are now right for significant further development of the business. Combined with existing resources and credit lines, the group will have access to approaching £500m of capital after the completion of this investment from KKR, with this capital enabling continued growth through the opening of more sites both in its current markets, as well as to sustain continued international expansion over the coming years.

PureGym will also deploy significant capital to strengthen the existing gym network, and maintain and enhance its already market-leading technology platform. This will continue a trend of tech and digital investment that recently saw the PureGym in-house developed app win the prize for UK Health & Fitness App of the year. PureGym has always applied technology innovatively and intends to remain at the vanguard of the world’s technology enabled gym and fitness operators.

Humphrey Cobbold, Chief Executive Officer of PureGym, said: “We are simply delighted to welcome today an investment firm of KKR’s stature – a firm I have known and respected for many years – as our new strategic partner. To have investors of the calibre of KKR and LGP supporting our business is a testament to the extraordinary efforts of every single colleague across our enterprise. It is also an endorsement of our overall strategy which is to become one of the leading players in the rapidly developing world market for gyms, fitness and activity.

At PureGym we are driven by a clear sense of mission and purpose – “Inspiring a Healthier World” – to make activity more affordable and more accessible to millions of people. We have a clear and deliverable growth strategy to ensure we deliver on this mission. We aim to expand further and consolidate our leadership positions in the UK, Switzerland and Denmark. Beyond Europe we have established a ground-breaking franchise partnership in the Middle East, exciting early-stage discussions with potential franchise partners in Asia, three trial sites preparing for launch in the US, and an exciting digital fitness development plan. With health and wellbeing rising to the top of the global agenda we now have the capital, the capabilities, the technology and the management team to become a global fitness and activity operator.”

Blaine MacDougald, Partner and Co-Head of KKR’s Strategic Investments Group, commented: “We have followed PureGym closely over the last few years as it emerged as an outstanding performer in its sector, with an experienced management team well-positioned to take advantage of the global opportunity in health and well-being. This investment provides PureGym with flexible capital to support its growth and international expansion plans and we will draw on the full range of KKR’s global platform and operational resources to help them drive further success for the business.”

Kris Galashan, Partner at LGP, said: “Today’s capital raising represents a significant development in the company’s journey. We are delighted to be working alongside KKR, one of the world’s leading investment firms, and look forward to working with them and the management team to secure further growth and success.”

KKR’s diversified and multi-asset investment platform provides KKR with the flexibility to support ambitious companies with a suite of comprehensive, bespoke capital solutions, further enhanced by its global experience and operational capabilities. KKR has been investing across strategies in the UK since the London office opened in 1998, with a long track record of helping leading UK-based businesses grow and internationalise. KKR has invested in businesses including ERM, Citation, Viridor, John Laing, Trainline, The Hut Group, Darktrace, among others, and has a strong global focus on consumer industries, with investments in Europe including Upfield, Roompot, Wella, Alliance Boots, SMCP, among others.

Closing of the investment remains subject to the satisfaction of customary conditions.

 

  • End –

 

Enquiries

Media enquiries:

Sanctuary Counsel – Public Relations Adviser to PureGym

Robert Morgan / Rachel Miller / Katie O’Brien

+44 (0) 208 194 3189

press@puregym.com

Finsbury Glover Hering – Public Relations Adviser to KKR             

 +44 20 7251 3801

Alastair Elwen / Sophia Johnston

KKR-LON@fgh.com

 

About PureGym

PureGym is a leading European gym operator, with approximately 1.6 million members across 511 clubs in the UK and Europe under the Fitness World brand in Denmark and PureGym in Switzerland. PureGym was launched in the UK in 2009, where it pioneered the model for affordable, flexible, high-quality fitness clubs and is now the market leader. In the UK, members pay monthly and have no contractual commitment. Many of its gyms are open 24/7 and offer a full range of top of the line equipment, including cardiovascular equipment, fixed resistance and free weights. The group is majority owned by Leonard Green & Partners, L.P.

As at 30 September 2021, PureGym has 291 sites in the UK, 180 Fitness World clubs in Denmark and 40 Basefit clubs in Switzerland.

For more information about PureGym’s TrainSafe protocols see https://www.puregym.com/landing/trainsafe/

 

About KKR

KKR is a leading global investment firm that offers alternative asset management and capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life, and reinsurance products under the management of The Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

About LGP

Leonard Green & Partners, L.P. (“LGP”) is a leading private equity investment firm founded in 1989 and based in Los Angeles with over $50 billion of assets under management. The firm partners with experienced management teams and often with founders to invest in market-leading companies. Since inception, LGP has invested in over 100 companies in the form of traditional buyouts, going-private transactions, recapitalizations, growth equity, and selective public equity and debt positions. The firm primarily focuses on companies providing services, including consumer, healthcare, and business services, as well as retail, distribution and industrials. For more information, please visit www.leonardgreen.com.

 

Forward-looking statements

This announcement may include forward-looking statements. All statements other than statements of historical facts included in this announcement, including those regarding PureGym’s financial position, business and acquisition strategy, plans and objectives of management for future operations are forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of PureGym, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding PureGym’s present and future business strategies and the environment in which PureGym will operate in the future. Many factors could cause PureGym’s actual results, performance or achievements to differ materially from those in the forward-looking statements. Forward-looking statements should, therefore, be construed in light of such risk factors and undue reliance should not be placed on forward-looking statements. These forward-looking statements speak only as of the date of this announcement. PureGym expressly disclaims any obligations or undertaking, except as required by applicable law and applicable regulations to release publicly any updates or revisions to any forward-looking statement contained herein to reflect any change in PureGym’s expectations with regard thereto or any changes in events, conditions or circumstances on which any such statement is based.

Categories: News

Tags:

LaLiga and CVC Fund VIII sign agreement to set Project Boost LaLiga in motion

CVC Capital Partners

Collaboration becomes effective after LaLiga General Assembly ratifies agreement with large majority

LaLiga and CVC Fund VIII have today signed a strategic agreement setting in motion Boost LaLiga (“LaLiga Impulso”), the project to boost the global growth of LaLiga and its clubs.

The signing on Sunday follows ratification with a large majority of Boost LaLiga by the LaLiga General Assembly on Friday with 37 of 42 clubs voting in favour.

The agreement between LaLiga and CVC Fund VIII will see the league and clubs receive a total of €1.994 billion which will be used for technology, innovation, internationalisation, and sporting growth initiatives.

The pioneering agreement between LaLiga and CVC Fund VIII sets a precedent for other European leagues and the wider sports and entertainment industry, a sector full of passion, excitement, and dynamism, but in constant flux and in need of adapting to new growth opportunities. LaLiga aspires to be a global leader with the best content, digital presence, and strong data collection and analysis allowing for direct interaction with fans through all available channels and with a particular focus on younger and international audiences.

Boost LaLiga will allow LaLiga and its clubs to adapt to the modern day demands of the sector with the backing of CVC, a partner with extensive experience. The agreement has been signed with LaLiga valued at a historic €24.25 billion by leading independent experts Rothschild & Co and Duff & Phelps. LaLiga was advised by Uría Menéndez, KPMG, and Bibium Capital, while CVC was advised by Latham & Watkins, Two Circles, and Oliver & Ohlbaum.

LaLiga President Javier Tebas said: “This agreement is a historic milestone not just for LaLiga but also for football and sport in general. LaLiga and its clubs now have the best partner possible to successfully pre-empt and navigate changes on the horizon and I believe that we are setting a precedent for other leagues in Europe and around the world to follow.”

Nick Clarry, Managing Partner and Head of Sports, Media & Entertainment at CVC, said: “We are truly grateful for the trust that LaLiga and its clubs have placed in us. LaLiga is the top sports competition in Spain and one of the leading competitions in the world. We are excited to help in this new phase for the long-term benefit of fans, players and the competition.”

The injection of nearly €2 billion commits participating clubs to allocating up to 70% of the funds to investments linked to infrastructure, international development, brand and product development, talent acquisition, communication strategy, innovation and technology, and a content development plan for digital platforms and social media. Up to 15% can be used to sign players, with the remaining 15% for reducing debt.

Categories: News

Tags:

FIVB partners with CVC Capital Partners to drive global growth of volleyball

CVC Capital Partners

Volleyball World will improve experience for players and fans, and optimise commercial performance for long-term success

The International Volleyball Federation (FIVB) and CVC Capital Partners Fund VII are pleased to announce the launch of Volleyball World, a new partnership which will drive innovation, growth and investment in volleyball around the globe.

Volleyball is the fourth most popular sport globally, with more than 800 million fans and high participation, across attractive markets, including Italy, Brazil, Japan, Poland, China and the US. Volleyball was the most watched sport at the 2016 Rio Olympic Games, with 2.6 billion viewer hours globally.

Volleyball World will become the commercial entity for the sport around the world, initially for FIVB and aiming at working later alongside other leagues and federations, with the goal of increasing the profile and popularity of the sport, through fresh investment for the benefit of fans, players and National Federations. Volleyball World will be responsible for the commercial operation of key volleyball and beach volleyball international events, including: the World Championships, Olympic Qualifiers and the Volleyball Nations League. The partnership will focus on event hosting, fan experience, media, data/digital opportunities, and sponsorship to grow commercial revenues for reinvestment, which will ensure the long-term success of the sport.

FIVB, together with its 222 National Federations, will remain the sole, global volleyball regulatory body with responsibility for the sport and its development. As the majority shareholder in Volleyball World, FIVB will oversee the new commercial vision for volleyball while ensuring the interests of all stakeholders are represented. CVC brings extensive experience to this partnership, with a strong track record of CVC funds investing in multiple sports businesses, including Formula 1, Moto GP, Rugby and Bruin Sports Capital. CVC also brings access to a broad international network of relationships with offices in 22 countries in Europe, Asia and the Americas, which will help accelerate the commercial growth of volleyball and investment in the sport at all levels.

Finn Taylor, who was previously the head of Cirque du Soleil’s Global Touring show business overseeing significant geographic expansion and growth, will be the CEO of Volleyball World. Fernando Lima, formerly FIVB Secretary General will Chair the Board of Volleyball World. Other Board members will include Fabio Azevedo (the current FIVB General Director) and Simon Denyer (founder and former CEO of DAZN Group).

FIVB President Ary S. Graça F° said:

“We are delighted to partner with CVC to launch Volleyball World. The FIVB is committed to constantly innovating while searching for opportunities that can sustain the development of the sport around the world. In CVC we are confident we have found a partner with the experience, network and capital to support FIVB in its mission to further professionalise the sport for the benefit of fans, players and National Federations.

“Volleyball World will boost our sport’s financial growth and deliver lasting legacies for the whole game. Working in partnership with CVC we will be able to secure volleyball’s future and emerge stronger from the current challenges.”

CVC Capital Partners Head of Sports, Media and Entertainment, Nick Clarry added:

“Volleyball is one of the most popular sports in the world and there is a huge untapped fan base and commercial potential. FIVB & CVC working together at Volleyball World, will drive innovation and greater fan engagement, which will accelerate growth and allow for substantial reinvestment back into the sport. We are delighted to be partnering with FIVB and look forward to working closely together to develop the sport globally, working collaboratively with all the players, leagues and federations in the years to come.”

Categories: News

Tags: