International investment and operating company Bruin Sports Capital has reached an agreement with Quadrant Private Equity to become the co-owner of global sports technology, media and marketing company TGI Sport.
The deal will look to harness Bruin’s resources to diversify and expand the business of TGI worldwide. The agreement, subject to regulatory approval, will see Barclay Nettlefold transition from QMS Media Group chief executive to TGI Sport global chief executive upon deal closure.
Financial terms of the deal were not disclosed but Variety reported that Bruin would invest $100m (£72.2m/€83.8m) into the company.
The deal follows a series of acquisitions over the last two years that have helped raise the profile of TGI, whose advertising and broadcast technologies are present across events organised by the likes of UEFA, LaLiga, Major League Soccer, France’s Ligue Nationale de Rugby, the England and Wales Cricket Board (ECB), New Zealand Rugby, CONCACAF and CONMEBOL.
TGI’s Parallel Ads broadcast technology is used by sports properties to segment and regionalise perimeter LED advertising, opening up new revenue streams and engagement opportunities for advertisers.
TGI’s tech-focused solutions are complemented by a fully integrated sports marketing services practice across Australia, New Zealand and the UK. The practice includes talent management, merchandising, consultancy, media sales, event management, content and communications.
George Pyne, founder and chief executive of Bruin, said: “TGI is precisely the type of company we look for at Bruin. Quadrant, Barclay and the leadership team are progressive, innovative, and understand how to create value for partners in the new sports and entertainment ecosystem.
“The team has significant momentum and we are proud that they’ve chosen Bruin to help accelerate the company’s trajectory. We are excited to help bring its market leading technology, capabilities and talents to a much broader global scale.”
Jonathon Pearce, Quadrant managing partner and QMS Group chairman, added: “We set out to create a world-leading, technology-led sports media business. With technology in place and already showing significant opportunity, partnering with George and the Bruin team provides TGI with a highly qualified partner to ensure the business is able to reach its full potential.”