United Talent Agency has landed a private equity investment from the firm Eqt that will help the agency fuel its “next phase of growth,” the two companies announced Monday.
Under the transaction, Eqt will become the largest outside shareholder in the company, but UTA partnership and leadership will continue to have a controlling interest in the company. Both UTA and Eqt are interested in expanding and investing in talent, innovation and international expansion.
As part of the transaction, Investcorp, a global alternative investment firm, which invested in UTA in 2018, will sell its full minority stake to Eqt, and Eqt will also purchase a portion of existing stakes from continuing shareholders including PSP Investments.
All employees at UTA regardless of level or tenure are expected to benefit financially from the new investment, an individual with knowledge of the deal tells TheWrap.
The transaction is expected to close later this month.
Also...
Under the transaction, Eqt will become the largest outside shareholder in the company, but UTA partnership and leadership will continue to have a controlling interest in the company. Both UTA and Eqt are interested in expanding and investing in talent, innovation and international expansion.
As part of the transaction, Investcorp, a global alternative investment firm, which invested in UTA in 2018, will sell its full minority stake to Eqt, and Eqt will also purchase a portion of existing stakes from continuing shareholders including PSP Investments.
All employees at UTA regardless of level or tenure are expected to benefit financially from the new investment, an individual with knowledge of the deal tells TheWrap.
The transaction is expected to close later this month.
Also...
- 7/18/2022
- by Brian Welk
- The Wrap
UTA has found a new investor in the private equity firm Eqt, which has purchased a minority stake in the Hollywood agency from Investcorp.
Under the transaction, which is expected to close later this month, “UTA partnership and leadership continue to hold the controlling interest in the company, with Eqt becoming the largest outside shareholder,” per the companies.
A source tells Variety that every employee at UTA — no matter their level at the company or length of employment at the agency — will benefit financially from the investment by receiving a check as a result of the transaction.
The deal between UTA and Eqt comes on the heels of the close of the game-changing merger between CAA and ICM, two of the “Big Four” Hollywood agencies, along with UTA and WME. UTA says the investment from Eqt “recognizes UTA’s artist-first approach and recent growth trajectory and will help fuel the...
Under the transaction, which is expected to close later this month, “UTA partnership and leadership continue to hold the controlling interest in the company, with Eqt becoming the largest outside shareholder,” per the companies.
A source tells Variety that every employee at UTA — no matter their level at the company or length of employment at the agency — will benefit financially from the investment by receiving a check as a result of the transaction.
The deal between UTA and Eqt comes on the heels of the close of the game-changing merger between CAA and ICM, two of the “Big Four” Hollywood agencies, along with UTA and WME. UTA says the investment from Eqt “recognizes UTA’s artist-first approach and recent growth trajectory and will help fuel the...
- 7/18/2022
- by Jennifer Maas
- Variety Film + TV
Click here to read the full article.
A fund operated by the private equity firm Eqt Partners has made a strategic investment in talent agency UTA, in a deal the agency says “will help fuel the next phase of investments in talent, innovation and international expansion.”
Eqt will become the largest outside shareholder in UTA in the acquisition, which will also see the firm acquiring stakes from some of UTA’s existing investors, including Investcorp and PSP Investments. UTA partnership and leadership will remain the controlling shareholders of the agency.
Specific terms of the deal, including valuation, were not disclosed. However, everyone at UTA is expected to benefit financially from the investment.
UTA has been on something of an acquisition spree in recent months, acquiring the strategic advisory firm MediaLink, the U.K. literary and talent agency The Curtis Brown Group, and the data and analytics firm MediaHound. The new...
A fund operated by the private equity firm Eqt Partners has made a strategic investment in talent agency UTA, in a deal the agency says “will help fuel the next phase of investments in talent, innovation and international expansion.”
Eqt will become the largest outside shareholder in UTA in the acquisition, which will also see the firm acquiring stakes from some of UTA’s existing investors, including Investcorp and PSP Investments. UTA partnership and leadership will remain the controlling shareholders of the agency.
Specific terms of the deal, including valuation, were not disclosed. However, everyone at UTA is expected to benefit financially from the investment.
UTA has been on something of an acquisition spree in recent months, acquiring the strategic advisory firm MediaLink, the U.K. literary and talent agency The Curtis Brown Group, and the data and analytics firm MediaHound. The new...
- 7/18/2022
- by Alex Weprin
- The Hollywood Reporter - Movie News
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