MJ's Son Partners With Tech Startup WaitTime U.S. Wins Its First World Baseball Classic Proposal Made To Lift Crandon Park Restrictions NFL Working To Reduce Number Of TV Breaks NFL Planning On Centralized Replay NFL Source: Raiders Have Enough Vegas Votes City, AT&T Explain Dropping USOC Deals Budweiser Unveils Limited Edition MLB Team Cans Longtime MLB Manager Dallas Green Passes Away League Notes
SBD/September 16, 2013/FinancePrint All
Private equity firm KKR "has teamed up with New Mountain Capital LLC to bid for IMG," according to sources cited by Roumeliotis, Kim & Damouni of REUTERS. Sources said that KKR and New Mountain "would be competing for IMG" against talent firms CAA and William Morris Endeavor. While KKR "may not have the industry expertise of CAA or William Morris, its partner New Mountain has deep ties to private equity firm Forstmann Little." New Mountain Founder Steven Klinsky formed the group in '00 after leaving Fortsmann Little. He was the "most senior partner at the firm outside of the Forstmann family and worked closely" with late IMG Chair Ted Forstmann. Sources said that CVC Capital Partners also is "involved in IMG's sale process." One source said that buyout firm Bain Capital "also plans to bid." Sources said that initial offers "are due in the next few weeks" (REUTERS, 9/13).