Private equity firm HIG Capital is acquiring Lagardère Sports from the Lagardère Group.
Lagardère Sports is a global sports marketing firm providing sponsorship, media and brand consulting, as well as event management and athlete management services. It employs around 1,300 full-time employees and generates annual sales of more than €450 million (£376 million).
The business will be rebranded following the completion of the sale and led by a new CEO, Stefan Felsing, who has previously held several management positions at Lagardère Sports.
The Lagardère Group will retain a minority shareholding of 24.9% in the business.
Christian Kraul-von Renner, Managing Director at HIG, said: “The global sports marketing segment is a multibillion Euro industry with attractive long-term growth prospects fuelled by the continuously increasing popularity of sports and the digitization of sports marketing services. HIG is looking forward to drive the business to the next level together with a truly global management team.”
Stefan Felsing, the new CEO of Lagardère Sports, added: "I am looking forward to returning to a former place of work in the context of my new responsibilities. Lagardère Sports has enormous potential, particularly given the Company’s unique culture and the long-standing trusted partnership with its customers. Together with H.I.G., a strong and experienced investor, we are ideally positioned to continue building on these great assets."
