Sports training giant IMG Academy sold to private equity firm for $1.25 billion

Endeavor Group is selling sports-training school IMG Academy to private equity firm EQT's Asian unit in an all-cash deal with an enterprise value of $1.25 billion.
The sale will see IMG Academy partner with EQT's portfolio company Nord Anglia Education, which operates premium international schools across 33 countries.
BPEA EQT's core investment thesis in the Asian education sector is focused on getting the emerging middle class access to world-leading education services.
The company is also planning to leverage EQT's digital technology capabilities to deliver IMG Academy's programs online.
The deal is expected to close in the third quarter of 2023.