ATLANTA & SANTA MONICA, Calif.--(BUSINESS WIRE)--Clearlake Capital Group, L.P. (“Clearlake”), in partnership with management, today announced the completion of the sale of PrimeSport Holdings Inc. to The Carlyle Group (“Carlyle”), Moorad Sports Partners (“Moorad Sports”) and RSE Ventures (“RSE”). As part of the transaction, Clearlake and management rolled over a significant equity stake in the company. Sam Soni, PrimeSport’s founder, remains CEO and continues to lead the company.
Headquartered in Atlanta, GA, PrimeSport is an event lifecycle management company and vertically-integrated eCommerce leader focused on monetizing the biggest sporting events in the world through premium ticket sales, travel packages and exclusive hospitality events for corporations, professional sports teams, universities and fans. For over 20 years, the PrimeSport team has developed trusted, long-term official partnerships with teams, leagues and events that give the company’s customers access to the most sought after sporting events, including the NCAA Final Four, College Football Playoff, Daytona 500 and many others.
“We are proud to have been the sponsor and backed the PrimeSport team during a period of rapid growth and transformation. PrimeSport extended its leadership in the market, further built its talented management team, invested in technology and its eCommerce platform, grew and further diversified its event partner base and made a strategic acquisition,” said Behdad Eghbali, a Clearlake founding partner. “We are pleased with the successes we have achieved together thus far and look forward to the next chapter of our relationship.”
“We are incredibly proud of the successful partnership with Clearlake. We appreciated the strong support and resources Clearlake provided, helping us accelerate our strategic growth plans, improve our business infrastructure, and enhance our win-win proposition to our official partners and sports fans everywhere,” said Soni. “We believe this transaction is an affirmation of PrimeSport’s growth potential, strategy and leadership team, and we will continue to invest in talent and technology to deliver for our official partners and customers.”
“We remain strong believers in PrimeSport’s vision, people, and the tremendous value it brings to its official team, league and event partners,” said James Pade of Clearlake. “We look forward to partnering with Carlyle, Moorad Sports, RSE and the management team as the company moves into its next stage of development.”
Lincoln International served as the sole financial advisor to PrimeSport and Clearlake, and KPMG provided transaction advisory services to the company.
About Clearlake Capital Group
Clearlake Capital Group, L.P. is a private investment firm focused on special situations and private equity investments such as corporate divestitures, recapitalizations, buyouts, reorganizations, and other equity investments. Clearlake seeks to partner with world-class management teams by providing patient, long- term capital and operational expertise to invest in dynamic businesses. Clearlake currently manages approximately $1.4 billion of assets under management, and Clearlake’s founding principals have led over 70 investments totaling more than $3 billion of capital in sectors including business services, communication, consumer products/retail, defense/public safety, energy/power, healthcare, industrials, media, and technology. For more information, please visit www.clearlakecapital.com.
PrimeSport is the leader in providing direct access to the biggest sporting events, offering tickets, travel, hospitality, and VIP experiences for corporations, professional sports teams and fans. PrimeSport's extensive experience in sports travel, hospitality and ticketing has allowed the company to form long term, official partnerships with some of the largest sporting events and organizations in the country. As a result, PrimeSport can provide more exclusive access to more events than any other company in the industry. Official partnerships include select NCAA Championships®, including the NCAA® Men's Basketball Tournament and Men’s Final Four®, Men's College World Series®, Division I Wrestling Championships, Women's College World Series®, Women's Final Four®, Women's Volleyball Championship and Men's Frozen Four®, NHL, 20 NFL teams, 2015 College Football Playoff National Championship, Rose Bowl, Sugar Bowl, Alamo Bowl, Orange Bowl, Holiday Bowl, Poinsettia Bowl, Chick-fil-A Bowl, Chick-fil-A Kickoff Game, AdvoCare Texas Kickoff, State Farm Champions Classic, Jimmy V Classic, 2K Classic, Gotham Classic, Legends Classic, Wrangler National Finals Rodeo, Feld Motor Sports, more than 40 major NCAA Division I universities, nineteen NASCAR speedways and more. PrimeSport is a privately-held company, headquartered in Atlanta, GA. For more information, please visit www.primesport.com.