Simpson Thacher & Bartlett and CMS are advising as New York investment firm Bruin Capital takes a minority stake in global sports promoter Matchroom, in a deal that values the business at over £1bn.
For Bruin Capital, Simpson Thacher fielded a primarily London-based team, led by veteran dealmaker and co-head of European M&A James Howe and M&A partner Chris Vallance, with Caleb McConnell advising on tax aspects, and London and Brussels-based Étienne Renaudeau advising on antitrust and FDI.
CMS advised Matchroom Sport, also with a City-based team, led by corporate partner and co-head of media Paul Guite and corporate partner Ben McParland. Stephen Hignett advised on tax, Andrew Quayle on share incentives, and Russell Hoare on competition.
Matchroom, founded in 1982 by sports promoter Barry Hearn, is a global, multi-sport live events and sports rights platform. It owns, promotes and broadcasts events across darts, boxing, snooker, and online gaming, and includes stars boxer Anthony Joshua, darts prodigy Luke Littler and rugby player Henry Pollock within its talent agency.
In 2024, CMS advised the company on a minority investment from sports marketing agency Pitch International, with a team also led by Guite and McParland, and also including Hignett, Quayle, and Hoare.
On the buy side, Bruin Capital, a sports and entertainment focused investment and operating platform, is a long-standing client of Simpson Thacher, which has advised the investor on its portfolio transactions since 2020.
These include a flurry of investments in 2024, spanning Box to Box Films, the producer of Netflix’s Formula 1 documentary series Drive to Survive, virtual advertisement specialist Supponor, and sports talent agency AS1. Howe, Vallance, and Renaudeau advised on each of these transactions, with McConnell absent only on the Supponor acquisition.
In January this year, Howe, Vallance, and Renaudeau advised Bruin Capital in connection with the establishment of an investment vehicle that raised $1bn from investors led by 26North, founded by Apollo co-founder Josh Harris, and PE firm The Jordan Company.
Matchroom chairman Eddie Hearn said of the deal: ‘The opportunity for Matchroom in the United States and globally continues to grow. This partnership with Bruin gives us the ability to accelerate that expansion and build on the platform we have created.’
According to a statement from Matchroom, the Hearn family will retain majority ownership and continue to oversee the business, with Eddie Hearn serving as group chairman and Barry Hearn as founder and president. Bruin will join Matchroom’s board of directors.
