Clearlake Capital Group has completed the sale of PrimeSport Holdings Inc to The Carlyle Group (Carlyle), Moorad Sports Partners and RSE Ventures.
As part of the transaction, Clearlake and management rolled over a significant equity stake in the company. Sam Soni, PrimeSport’s founder, remains CEO and continues to lead the company.
Headquartered in Atlanta, GA, PrimeSport is an event lifecycle management company and vertically-integrated eCommerce leader focused on monetizing the biggest sporting events in the world through premium ticket sales, travel packages and exclusive hospitality events for corporations, professional sports teams, universities and fans. For over 20 years, the PrimeSport team has developed trusted, long-term official partnerships with teams, leagues and events that give the company’s customers access to the most sought after sporting events, including the NCAA Final Four, College Football Playoff, Daytona 500 and many others.
“We are proud to have been the sponsor and backed the PrimeSport team during a period of rapid growth and transformation. PrimeSport extended its leadership in the market, further built its talented management team, invested in technology and its eCommerce platform, grew and further diversified its event partner base and made a strategic acquisition,” says Behdad Eghbali, a Clearlake founding partner. “We are pleased with the successes we have achieved together thus far and look forward to the next chapter of our relationship.”
“We are incredibly proud of the successful partnership with Clearlake. We appreciated the strong support and resources Clearlake provided, helping us accelerate our strategic growth plans, improve our business infrastructure, and enhance our win-win proposition to our official partners and sports fans everywhere,” says Soni. “We believe this transaction is an affirmation of PrimeSport’s growth potential, strategy and leadership team, and we will continue to invest in talent and technology to deliver for our official partners and customers.”
“We remain strong believers in PrimeSport’s vision, people, and the tremendous value it brings to its official team, league and event partners,” says James Pade of Clearlake. “We look forward to partnering with Carlyle, Moorad Sports, RSE and the management team as the company moves into its next stage of development.”
Lincoln International served as the sole financial advisor to PrimeSport and Clearlake, and KPMG provided transaction advisory services to the company.
