EQT Expansion Capital invests in Sportradar
- EQT Expansion Capital II invests approximately EUR 44 million in Sportradar AG, the leading supplier of sports related live data, odds solutions and fraud detection services
- Sportradar was valued at an Enterprise Valuation of EUR 127.5 million pre new money
- Sportradar AG’s founder and CEO Carsten Koerl remains majority shareholder.
- Werner Klatten joins the board as Chairman
- The investment supports Sportradar AG’s ambitious growth strategy and reinforces its market leading position
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.
The transaction places an Enterprise Value, pre new money, of EUR 127.5 million on Sportradar. 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 behaviour, 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.
Sportradar was advised by McQueen as financial adviser and Brandl & Talos as legal adviser.
Contacts: Sportradar AG
Andreas Krannich, Managing Director Strategy and Integrity +49 89200084545
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.
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