Global investment firm EQT has acquired Investcorp’s minority stake in UTA as the Hollywood agency looks to drive the next wave of growth, of which international expansion is a key pillar.
The UTA partnership and leadership continue to hold the controlling interest in the company and EQT becomes the largest outside shareholder.
Investcorp, bought into UTA in 2018 and is selling its full minority stake to EQT, which will also purchase a portion of existing stakes from continuing shareholders including PSP Investments.
The transaction is expected to close later this month.
UTA CEO Jeremy Zimmer noted EQT’s “deep international capabilities, a strong balance sheet”. Kasper Knokgaard, EQT partner and global head of the services sector team, added that UTA “checks all the boxes” as a company positioned for ”strong and sustained growth across economic cycles”.
UTA acquired UK publishing and talent agency The Curtis Brown Group in June and strategic advisory firm MediaLink in December 2021. In 2019 UTA made a strategic investment in Klutch Sports Group.
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