Investment will fund international expansion
Sportradar AG has entered into an investment partnership with private equity group EQT VI.
EQT VI will acquire shares from Sportradar founder – Carsten Koerl, various management shareholders and EQT Expansion Capital II.
Koerl, as well as Sportradar's management, will remain as significant major shareholders alongside EQT VI and will continue to drive Sportradar's future development and growth.
"We are excited to have EQT VI as a new investor in Sportradar. With our new partner, we are able to leverage EQT VI's global network of Industrial Advisors and its expertise in supporting growth strategies. We will also have increased financial flexibility, and, together with EQT VI, we will continue developing Sportradar into the #1 global sports data and information company with deep coverage across value chain, geographies and customer segments," commented Koerl.
"We are impressed by Sportradar's achievements so far, and see vast potential to create value by further building on the Company's capabilities and position. With EQT VI as an investor and partner, Sportradar will continue to further expand internationally, serve its customers with a more comprehensive product and solution set, address attractive new customer segments and also strengthen its market position through acquisitions. We look forward to supporting Sportradar's management and employees in realizing Sportradar's full potential," said Dominik Stein, Partner at EQT Partners, Investment Advisor to EQT VI.
EQT Expansion Capital II has sold its entire minority share in the business. The company invested around Euro 44 million in Sportradar AG in July 2012.
The transaction is expected to close in June, subject to customary anti-trust approvals.
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