EQT Partners: EQT Expansion Capital Invests in Sportradar

STOCKHOLM–(BUSINESS WIRE)–EQT Expansion Capital II (“EQT Expansion Capital”) has agreed to invest
approximately EUR 44 million in Sportradar AG (“Sportradar” or the
“Company”), the leading supplier of sports related live data, odds
solutions and fraud detection services to bookmakers, media companies,
sports federations and government agencies. As part of the transaction
EQT Expansion Capital will become a minority investor and provide growth
capital to finance Sportradar’s further organic and acquisitive
development. Sportradar has an enterprise value, before EQT Expansion
Capital’s investment, of EUR 127.5 million.

“Over the last few
years, sports betting has gained an increasing importance within the
sports industry. With its investment in Sportradar, EQT Expansion
Capital supports a highly innovative provider of live sports data that
will strongly profit from the continuous growth of the sports betting
market”

The Company’s founder and CEO, Carsten Koerl, as well as Sportradar’s
management will remain shareholders in Sportradar and will continue to
lead Sportradar’s further development and growth after the transaction.

EQT Expansion Capital is dedicated to providing capital for privately
owned mid-market companies seeking growth. It is part of EQT, the
leading private equity group in Northern Europe with more than EUR 18
billion in raised capital. Alongside its financial investment, EQT
Expansion Capital will provide expertise from EQT’s global network to
support and accelerate Sportradar’s further expansion.

“We are delighted about the partnership with EQT Expansion Capital. It
is the right moment for this strategic co-operation as there are huge
opportunities for Sportradar in the marketplace. Combining with EQT
Expansion Capital, with its great experience of backing successful
companies, and EQT’s network of industry contacts means we are confident
of continuing Sportradar’s success story in the future. With our new
investor, our financial firepower has improved significantly. The
transaction supports our aggressive future growth strategy and will
provide access to exciting new business opportunities”, says Carsten
Koerl, CEO of Sportradar.

Werner Klatten, Sportradar’s new Chairman adds: “Over the last few
years, sports betting has gained an increasing importance within the
sports industry. With its investment in Sportradar, EQT Expansion
Capital supports a highly innovative provider of live sports data that
will strongly profit from the continuous growth of the sports betting
market”.

“EQT Expansion Capital will support Sportradar’s successful management
team in further growing its business organically and via acquisitions.
Based on its market-leading portfolio of sports data and software
solutions as well as the close cooperation with several sports
federations in detecting and preventing fraudulent behavior, we are
convinced that Sportradar will continue its impressive growth story”,
comments Jens Moritz, Partner at EQT Partners in Germany, Investment
Advisor to EQT Expansion Capital II.

About EQT

EQT is the leading private equity group in Northern Europe
with close to EUR 18 billion in raised capital and multiple investment
strategies. Together with a superior network of independent Industrial
Advisors, EQT implements its investment strategy by acquiring or
financing good medium-sized to large companies in Northern and Eastern
Europe, Asia and the United States, supporting their development into
leading companies. Development is achieved by an industrial strategy
with focus on growth. Since inception, EQT has invested more than EUR 11
billion in around 100 companies and exited close to 50. EQT-owned
companies have more than 550,000 employees.

EQT Expansion Capital II provides capital
for privately owned mid-market companies. The core investment focus of
the Fund is businesses in need of capital for growth. The financing
solutions have equity characteristics, while the owner normally
maintains control over the company.

EQT Partners, acting as Investment Advisor to the managers
of each EQT fund, has around 120 investment professionals with an
extensive industrial and financial competence. EQT Partners and its
affiliates have offices in Copenhagen, Frankfurt, Helsinki, Hong Kong,
Oslo, London, Munich, New York, Shanghai, Singapore, Stockholm, Warsaw
and Zurich.

More information can be found on www.eqt.se

About Sportradar
Sportradar was founded by Carsten
Koerl together with two co-founders in 2003. The Company operates 7
offices across Europe and is headquartered in St. Gallen, Switzerland.
With over 450 employees and 1,500 scouts worldwide, Sportradar covers
the entire value chain of collecting, processing, marketing and
monitoring of sports related live data as well as providing betting
related services to bookmakers. In addition to its bookmaker services,
Sportradar provides data to media agencies and works closely together
with sports federations and law enforcement agencies in order to detect
fraudulent movements in the worldwide betting market. Sportradar’s
strong growth since 2003 mainly results from its superior data quality,
its broad product offering as well as constant innovation.

This information was brought to you by Cision http://www.cisionwire.com

Article source: http://www.businesswire.com/news/home/20120709005676/en/EQT-Partners-EQT-Expansion-Capital-Invests-Sportradar

Tags: , , , , , , , , , , ,

Leave a Reply

CommentLuv badge

*