Wasserman (“Wasserman” or “the Company”), a global sports, music and culture agency, today announced a strategic investment from Providence Equity Partners (“Providence”), a premier private equity firm specializing in growth-oriented investments in media, communications, education and technology. The investment from Providence will be used to provide capital to pursue growth initiatives and to fully redeem RedBird Capital Partners and Madrone Capital Partners, who exit as investors. Wasserman’s Founder, Chairman and CEO Casey Wasserman will continue to retain a controlling ownership stake. Financial terms of the transaction were not disclosed.
Founded in 2002, Wasserman is a partner to the world’s most iconic sports figures, musical artists, brands and properties, operating across six continents, 23 countries and more than 40 cities worldwide. Throughout its 20-year history, Wasserman has deliberately expanded its global presence through both targeted acquisitions and organic growth, with recent advancements including: the launch of Wasserman Music in both North America and the U.K.; a significant investment in post-career services for clients through the acquisition of The Montag Group; a strategic focus on marketing to Gen Z consumers through the acquisition of Riddle & Bloom; and a continued expansion into global sports with the launch of Wasserman Rugby.
Stated Casey Wasserman:
I am incredibly proud of the business, and more importantly the team we have built over the past 20 years. Our prioritization of client service and values has resulted in tangible business success and cultural rewards, and there is no better partner to help us accelerate and scale this purpose-driven model than Providence. Their long relationship with our executive management group plus their extensive experience and established investment approach across the sports, media and entertainment sectors, and a shared commitment to culture will help accelerate the next phase of Wasserman’s expansion.”
“Casey and his team have built a global leader and influential force in sports and music talent representation and marketing, and they have balanced their rapid expansion with maintaining a client-first approach and culture that cultivates dedicated, motivated and talented executives and agents,” said Scott Marimow, Managing Director at Providence. “Wasserman is a natural fit with our firm, and we look forward to partnering with Casey and the entire Wasserman team to help fuel the Company’s next phase of growth and success.”
“Wasserman has the potential to set the bar for the future of talent representation and brand and marketing consultancy,” said Davis Noell, Senior Managing Director and Co-Head of North America at Providence. “With our strong existing relationship, similar cultures and shared passion for media, sports, and entertainment, we are pleased to have reached this agreement to partner together. We are excited to work with the talented Wasserman team to help capitalize on the tremendous organic and inorganic opportunities ahead.”
Over the past 20 years Wasserman has established itself as one of the world’s leading companies in the areas of brand and property marketing, and sports and music talent representation, providing clients with a deep and broad suite of services across partnership management, insights and analytics, creative and content, and talent marketing and services. The Company has a track record of creating policies and practices that lead to lasting impact in the areas of diversity and inclusion, with a continued focus on equity and fairness for women in sports and music through The Collective, Wasserman’s women’s-focused practice.
Sullivan & Cromwell LLP served as legal advisor to Wasserman and Kirkland & Ellis LLP served as Providence’s legal advisor.
Wasserman is a partner to the world's most iconic sports figures, musical artists, brands, and properties. The company’s purpose is to transform and advance brands, businesses and careers, empowering clients to create culture and impact audiences.
About Providence Equity Partners
Providence Equity Partners is a specialist private equity investment firm focused on growth-oriented media, communications, education, and technology companies across North America and Europe. Providence combines its partnership approach to investing with deep industry expertise to help management teams build exceptional businesses and generate attractive returns.
Since its founding in 1989, Providence has invested over $31 billion across more than 170 private equity portfolio companies. With its headquarters in Providence, RI, the firm also has offices in New York, London, Boston and Atlanta.
For more information, please visit www.provequity.com.
Providence Equity Partners
Andrew Cole/Kelsey Markovich/Hayley Cook/Ethan Hunter