Providence Equity to sell Learfield for $425M

PROVIDENCE EQUITY PARTNERS is selling Learfield Communications Inc., a sports marketing company, to Atairos Group Inc.
PROVIDENCE EQUITY PARTNERS is selling Learfield Communications Inc., a sports marketing company, to Atairos Group Inc.

PROVIDENCE – Providence Equity Partners LLC is selling Learfield Communications Inc., a sports marketing company, to Atairos Group Inc.
While financial terms of the deal were not disclosed in a company press release, The Wall Street Journal cited an investor letter that said the private-equity firm is set to make $425 million on the Learfield sale.
The Wall Street Journal said that the firm’s sale of Learfield represents a 2.9-times return on its 2013 investment in the Plano, Texas-based company.
The release said that over the past three years, Learfield has added 10 businesses through acquisitions, including Nelligan Sports Marketing, LRG, SIDEARM Sports, Strategic Marketing Affiliates, ANC, Front Row Marketing Services’ collegiate MMR properties, KP Sports, Think Social, SME and GoVision.
Learfield also manages the multimedia and sponsorship rights for more than 120 collegiate institutions, conferences and arenas.

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