Jennifer Maas TV Business Writer Endeavor has struck a deal to sell Florida-based sports education institution IMG Academy to private equity firm BPEA EQT for $1.25 billion.
The all-cash transaction, done in partnership with Nord Anglia Education, is expected to close in Q3. Located in Bradenton, Florida, IMG Academy was founded in 1978 as the Nick Bollettieri Tennis Academy.
The academy was purchased by IMG in 1987 and eventually expanded its offerings to include golf, soccer, baseball, basketball, football, lacrosse, track & field and volleyball.
Endeavor acquired IMG in 2014, with ownership of IMG Academy included as part of that deal. IMG Academy currently boasts a sports-focused boarding school, sports camps, online coaching and online college recruiting that serve in total more than 100,000 student-athletes.
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