Silver Lake to take Endeavor private

LOS ANGELES (Celebrity Access) – Endeavor Group Holdings, the holding company for global talent agency WME, has been acquired by private equity backed Silver Lake, in partnership with Endeavor management and other investors. announced that they had agreed to do so.

The transaction will take Endeavor private and will result in Silver Lake acquiring 100% of the company’s outstanding shares that it does not already own. Endeavor shareholders received $27.50 in cash per share, a 55% premium to Endeavor’s stock price, at the close of trading on October 25, the last full day of trading before Endeavor announced its strategic review plan. will receive.

The deal values ​​Endeavor’s stock at $13 billion. According to Endeavor, Silver Lake estimates that when combined with TKO, the sports promotion that Endeavor acquired last year, the company’s total enterprise value is more than $25 billion.

However, Endeavor said TKO is not part of the transaction and will remain a publicly traded company.

“Since 2012, Endeavor’s strategic partnership with Silver Lake and Egon Durban has been central to the company’s evolution into the global sports and entertainment leader it is today. We believe the transaction maximizes value for all of Endeavor’s public shareholders, and we are excited to continue to invest and unlock future growth opportunities as a private company,” said Endeavor CEO Ariel Emanuel. Ta.

“Our unwavering belief in Ali and Patrick, as well as Mark and Endeavor’s other talented leaders, has never been stronger. This is a very special partnership. Together we will build Endeavor The company has grown from $350 million in annual revenue when it first invested in 2012 to nearly $6 billion in consolidated revenue today. Today, Endeavor leverages its unique core platform to With a bold vision, we can now respond to the dynamic forces driving the growth of content, sports, and live events. Aligned with our mission and highlighted by this commitment, the largest in Silver Lake’s history, Together, we will work with the Endeavor team and our trusted anchor investors to create value by accelerating growth at scale,” added Co-CEO Egon Durban. . He is also a managing partner of Silver Lake.

BDT & MSD Partners served as lead financial advisor to Silver Lake. Goldman Sachs & Co. LLC, JP Morgan, Morgan Stanley & Co. LLC, BofA Securities, Barclays, Deutsche Bank Securities Inc., and RBC Capital served as Silver Lake’s lead arranger and lead financial advisor. KKR Capital Markets served as global financial advisor to Silver Lake. Raine Group also acts as a financial advisor. Simpson Thacher & Bartlett LLP and Kirkland & Ellis LLP served as legal advisors to Silver Lake.

Latham & Watkins LLP served as legal advisor to Endeavor.