Providence Equity is in as an investor and Redbird Capital as well as Madrone Capital are cashing out. Brendan Coffey at Sportico had the coverage yesterday, and it was supposedly a big buyout. Per Coffey, RedBird was believed to have purchased a 30% to 40% stake in Wasserman in 2020, and Madrone, the family office of Rob Walton, was reported to have invested $100 million in Wasserman in 2014.
Providence “becomes a sizable minority partner in Wasserman,” according to Coffee, and also is an investor in Learfield and The Chernin Group.
More news for the company consists of an acquisition of BSE Media Group and the hiring of its founder Oscar Morilla as Senior Vice President, Talent Marketing and Partnerships. BSE will be rebranded as Wasserman effective immediately.
Morilla founded BSE in 2012 and has a client list that includes soccer players, Olympic and Paralympic champions, action sports athletes, influencers, chefs, TV hosts, and brands in finance, automotive, health care, and utilities.