M&A Deal Summary

Baring Private Equity Asia and Weatherford Capital Management Acquire IMG Academy

On April 25, 2023, private equity firm Baring Private Equity Asia and family office Weatherford Capital Management acquired education company IMG Academy from Endeavor for 1.3B USD

Acquisition Highlights
  • This is Baring Private Equity Asia’s 5th and Weatherford Capital Management’s 1st transaction in the Education sector.
  • This is Baring Private Equity Asia’s 7th and Weatherford Capital Management’s largest (disclosed) transaction.
  • This is Baring Private Equity Asia’s 5th and Weatherford Capital Management’s 4th transaction in the United States.
  • This is Baring Private Equity Asia’s 1st and Weatherford Capital Management’s 2nd transaction in Florida.

M&A Deal Summary
Date 2023-04-25
Target IMG Academy
Sector Education
Buyer(s) Baring Private Equity Asia
Weatherford Capital Management
Sellers(s) Endeavor
Deal Type Divestiture
Deal Value 1.3B USD

Target

IMG Academy

Bradenton, Florida, United States
IMG Academy supports the entire student-athlete development journey across its on-campus and online student-athlete education experiences. The Company provides a sports-focused boarding school, sports camps, online coaching, and college recruiting, and is known for its strong outcomes from the Ivy League to professional leagues. IMG Academy was formed in 1978 and is based in Bradenton, Florida.

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Buyer(S) 2

Buyer

Baring Private Equity Asia

Hong Kong, China

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1997
PE ASSETS 17.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Baring Private Equity Asia is an Asia-focused private equity group specializing in growth equity investments and buyouts of companies valued between $300 million and $1.5 billion. Baring looks for companies that require capital for organic expansion, recapitalizations, or to fund acquisitions. The Group's geographic coverage spans China, India, Japan, Singapore, Hong Kong, and Taiwan. Baring Private Equity Asia was formed in 1997 and is based in Hong Kong.

DEAL STATS #
Overall 42 of 43
Sector (Education) 5 of 5
Type (Divestiture) 6 of 6
State (Florida) 1 of 1
Country (United States) 5 of 5
Year (2023) 1 of 2
Size (of disclosed) 7 of 15
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-20 Bushu Pharma

Saitama, Japan

Bushu Pharma is an independent pharmaceutical contract manufacturer that carries out pharmaceutical drug product contract manufacturing and packaging of clinical trials and commercial products in accordance with the latest GMP standards. Bushu Pharma was formed in 1998 and is based in Saitama, Japan.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-07-28 Indira IVF

Udaipur, India

Indira IVF is a fertility hospital serving a network spanning 116 centers across 20 states in India. The company provides Assisted Reproductive Technology services in India and completes approximately 40,000 IVF cycles annually. It has successfully supported over 125,000 couples in their journey towards achieving pregnancy. Indira IVF was founded in 1988 and is based in Udaipur, India.

Buy -
Buyer

Weatherford Capital Management

Investor Investor Investor Investor

Category Family Office
Founded 2015
Size Small
Type Sector Agnostic
DESCRIPTION

Weatherford Capital Management is a family-backed private investment firm that looks to invest in mid-sized growth companies. The Firm looks to commit $10 to $50 million per transaction via late stage, growth capital, or recapitalizations. Weatherford will consider opportunities across the US, but has a preference for businesses operating in Texas and Florida. Weatherford Capital Management was formed in 2015 and is headquartered in Tampa, Florida.

DEAL STATS #
Overall 5 of 5
Sector (Education) 1 of 1
Type (Divestiture) 1 of 1
State (Florida) 2 of 2
Country (United States) 4 of 4
Year (2023) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-01 Stellar

Dallas, Texas, United States

Stellar is a technology-driven marketplace that enables property managers and contractors to successfully resolve home maintenance issues, giving residents peace of mind. Stellar was founded in 2016 and is based in Dallas, Texas.

Buy -

Seller(S) 1

SELLER

Endeavor

Beverly Hills, California, United States
Category Company
Founded 1898
Sector Media
Employees10,000
Revenue 6.0B USD (2023)
DESCRIPTION

Endeavor is a global sports and entertainment company, home to the world’s most dynamic and engaging storytellers, brands, live events, and experiences. The Endeavor network specializes in talent representation; marketing and licensing; content development, distribution, and sales; event management; and a number of direct-to-consumer offerings. Endeavor was incorporated in 1898 and is based in Beverly Hills, California.

DEAL STATS #
Overall 3 of 3
Sector (Education) 1 of 1
Type (Divestiture) 3 of 3
State (Florida) 1 of 1
Country (United States) 3 of 3
Year (2023) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-04-03 World Wrestling Entertainment

Stamford, Connecticut, United States

World Wrestling Entertainment is an integrated media organization and recognized leader in global entertainment. The company consists of a portfolio of businesses that create and deliver original content 52 weeks a year to a global audience. WWE is committed to family friendly entertainment on its television programming, pay-per-view, digital media and publishing platforms. WWE programming is broadcast in more than 150 countries and 30 languages and reaches more than 650 million homes worldwide. The company is headquartered in Stamford, Conn., with offices in New York, Los Angeles, Miami, London, Mumbai, Shanghai, Singapore, Munich and Tokyo. World Wrestling Entertainment was founded in 1980 and is based in Stamford, Connecticut.

Buy $9.3B
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