Endeavor’s stretch as a public company has officially come to an end after nearly four years. The company announced on Monday morning that Silver Lake and its partners have acquired 100% of Endeavor’s outstanding shares, not including rolled interests.
Shareholders will be paid $27.50 per share, as originally announced last April. The company’s shares will no longer be listed on the New York Stock Exchange.
Silver Lake’s acquisition is backed by investments from Mubadala Investment Company, Michael Dell’s DFO Management family office, Lexington Partners, funds managed by Goldman Sachs Asset Management and CPP Investments, the investment arm of the Canada Pension Plan.
Last month, Endeavor completed the sale of IMG, On Location and Professional Bull Riders to TKO Group Holdings for $3.25 billion. Endeavor maintains roughly 60% ownership of TKO.
The Endeavor brand will cease to be used publicly, with the company’s representation businesses now consolidated under WME Group. That portfolio includes talent agency WME, creative agency 160over90, licensing firm IMG Licensing and content business Pantheon Media Group.
Endeavor CEO Ariel Emanuel will be WME Group’s executive chairman, while Mark Shapiro will be the company’s president and managing partner. He will lead day-to-day operations alongside co-chairmen Christian Muirhead and Ricahrd Weitz, who previously served as co-chairs of WME. Emanuel, Shapiro and Endeavor executive chairman Patrick Whitesell have rolled over equity positions in the company.
Whitesell will now lead a new sports and media business backed with $250 million from Silver Lake. He is also expected to acquire WME’s football division in a separate deal. WME is no longer able to represent NFL players or coaches due to conflict-of-interest concerns following Silver Lake co-CEO and managing partner Egon Durban acquiring a 7.5% stake in the Raiders.
Endeavor also announced today that it has completed the sale of sportsbook tech provider OpenBet to OB Global Holdings, a management buyout with backing from Emanuel and OpenBet CEO Jordan Levin, among others.