Simon Cowell’s Agent YMU Confirms $76M Sale To Permira & Hunts Acquisitions
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deadline.comEXCLUSIVE: YMU, the UK agency that reps Simon Cowell, Graham Norton, and Nicole Scherzinger, has confirmed its sale to private equity company Permira under a £60M ($76M) deal.
Permira has taken full control of YMU’s newly-created parent company Yokozuna Newco Limited, with Trilantic Europe exiting the agency after five years, according to financial filings.
Under the deal, Permira has converted £32.9M of YMU debt into Yokozuna shares and canceled a further £16M of debt. Permira also made a credit facility of £10M available to YMU.
YMU is understood to have created a new management incentive plan that will give its senior leadership team, including CEO Mary Bekhait, an equity stake in the agency.
Read more on deadline.com
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