Endeavor Group (EDR)’s IMG Acquires Majority Stake in Barrett-Jackson

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IMG, an Endeavor (NYSE: EDR) company and global leader in events, media, sports and fashion, has acquired a majority stake in Barrett-Jackson, a premier collector car auction and live events company.

IMG, which owns, operates and commercially represents hundreds of events around the world, including Frieze Art Fair, Madrid and Miami Open Tennis Tournaments, Formula Drift and New York Fashion Week The Show, will serve as Barrett-Jackson’s strategic partner. fulfill. Based in Scottsdale, Arizona, including CEO Craig Jackson and Steve Davis, who have made Barrett Jackson one of the world’s leading brand authority and premium collector car lifestyle destinations and his team will leverage IMG and Endeavor’s global networks. Expertise in building world-class event experiences and brands to further strengthen and grow your business.

Barrett-Jackson events and energetic auctions in Scottsdale, Las Vegas, Nevada, Palm Beach, Florida, and Houston, Texas, attract the world’s most distinguished car collectors, fans, celebrities, and… It attracts millions of TV viewers. , more than 3,600 cars are sold annually without reservation. Founded in 1971, its flagship Scottsdale event auctions highly sought-after and valuable automobiles, attracting more than 300,000 attendees each year and is one of the world’s oldest and largest collectors of his cars. His auction has become one of his events.

Endeavor CEO Ariel Emmanuel said: Like IMG, Barrett Jackson is an industry pioneer and looks forward to working with Craig and his team to build an impressive legacy across categories such as experience, hospitality, content, marketing and partnerships. increase. ”

Barrett-Jackson CEO Craig Jackson said: “We are extremely excited to have the best partners as we aim to optimize the fan experience and create new touchpoints for car enthusiasts through live events and media offerings.”

Barrett-Jackson President Steve Davis said: We have built something incredibly special, and with IMG’s expertise and relationships, Craig and I look forward to elevating our offerings and attracting a whole new generation of fans. ”

Investments in this industry come at a time when enthusiasm for collector cars and live events, demand for automotive content, and collector car prices are at record highs.

Barrett-Jackson was founded in 1971 by Craig Jackson’s parents Russ and Nellie Jackson and Tom Barrett. Since Craig took over the business in 1995, Barrett-Jackson has been at the forefront of innovation, from introducing the popular no-reservation auction format to over 200 regional bids and events via A+E Networks. From broadcasting to development, it is the best-in-class proprietary technology and has expanded beyond classic cars. Most recently, the company entered the online car listing and auction business through the acquisition of its parent company, Collector Car Network (CCN). ClassicCars.com When AutoHunter.comattracts more than 5 million online visitors each month.

Moelis & Company LLC acted as exclusive financial advisor to Barrett-Jackson. Eisner LLP, DLA Piper LLP, and Perkins Coie LLP served as legal counsel to his Barrett-Jackson.

Latham & Watkins LLP acted as legal counsel to Endeavor.

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