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Business News Deals Live Business
CAA acquires ICM Partners
By Andy Malt | Published on Tuesday 28 September 2021
Talent agency CAA has announced that it has agreed a big old deal to acquire rival firm ICM Partners.
Among the benefits for CAA, the deal will bring with it ICM’s growing sports division, which it has been expanding aggressively in recent years. It will also boost CAA’s market share across the wider talent representation industry – including in music – just as its majority owner, private equity firm TPG Capital, explores the possibility of an IPO.
“Today’s storytellers, athletes, thought-leaders, and trend-setters who can move, inspire, and attract large, global audiences have unprecedented opportunity and ability to achieve their goals and aspirations”, say CAA’s Bryan Lourd, Kevin Huvane, and Richard Lovett. “The strategic combination of CAA and ICM bolsters our collective resources, expertise, and relationships to deliver even more opportunities for our world-class clients to build their careers and their brands across multiple disciplines and platforms in an evolving marketplace”.
“Our strong financial position enables us to continue to expand and diversify our businesses, with service and representation remaining central to what we do and who we are”, they continue. “We’re fortunate to have a partner in ICM who shares our commitment to the widest and most inclusive vision possible for what our clients and company can accomplish together”.
ICM’s Chris Silbermann – who will join CAA’s shareholder board – adds: “We’re THRILLED to partner and combine forces with the talented CAA team. Together, we will build upon our accomplishments and entrepreneurial spirit, and continue to demonstrate an unwavering commitment to the best interests of our clients, as well as empowering new, diverse voices within the industry”.
No financial terms have been made public, but the deal is expected to close later this year – pending any regulatory investigation.
