Binder Grössawng advised a consortium of investors on the acquisition of Sportradar AG
Binder Grösswang advised in close cooperation with Linklaters a consortium of investors, consisting of Canada Pension Plan Investment Board (CPPIB) and U.S. growth equity firm TCV, on the acquisition of a significant stake in Sportradar AG.
CPPIB, through its wholly owned subsidiary, CPP Investment Board Europe S.à r.l., and TCV will together acquire a stake in Sportradar at an enterprise value of EUR 2.1Bn (~USD 2.4Bn.) from private equity firm EQT and certain minority shareholders. Carsten Koerl, founder, majority shareholder and CEO, will retain his entire ownership position in Sportradar. EQT will also reinvest a portion of its sale proceeds into Sportradar.
Headquartered in St. Gallen (Switzerland), Sportradar is the global leader in the provision of sports data. The company provides leagues, news media, consumer platforms and sports betting operators with data. It is an official partner of the NBA, NFL, NHL and NASCAR, as well as FIFA and UEFA.
Canada Pension Plan Investment Board is an investment management organisation, headquartered in Toronto (Canada), that manages and invests funds on behalf of 20 million contributors to and beneficiaries of the Canada Pension Plan (CPP).
Founded in 1995, TCV provides capital to growth-stage private and public companies in the technology industry. The firm has invested more than 10 billion U.S. dollars in leading technology enterprises and has assisted in over 115 IPOs and strategic acquisitions. TCV currently has invested over 1 billion U.S. dollars in Europe.
A Linklaters team led by Christopher Kellett (Private Equity/M&A, Frankfurt) and Ben Rodham (Private Equity/M&A, London) advised on the transaction.
Binder Grösswang advised as local counsel for Austria. The Binder Grösswang team was under the lead of M&A partner Thomas Schirmer and included further: Felix Fuith (associate Corporate/M&A) and Mona Holzgruber (associate Corporate/M&A), in Employment: Horst Lukanec (Partner) and Sabine Apfl-Trompeter (Senior Associate); in Real Estate: Markus Uitz (Partner) and Christoph Baumgartner (Senior Associate) and in IP/IT: Hellmut Buchroithner (Counsel) und Arne Greiner (Associate).