Private equity fund Carlyle Group is buying PrimeSport Holdings, which sells tickets, suites and hospitality packages to events ranging from the Final Four to tennis Grand Slams. Carlyle is joined by former Padres Vice Chair & CEO Jeff Moorad and RSE Ventures, the sports holding company of Dolphins Owner Stephen Ross. Private equity focusing on sports is a bustling trend, though Moorad said this is not an example of it because another PE firm, Clearlake Capital, already owned PrimeSport. Moorad declined to provide deal terms or PrimeSport's financials. He said it has about 80 employees and is headquartered in Atlanta. PE firms buying sports holdings from another PE firm is not unprecedented. Endurance sports company Competitor changed hands between PE firms in '13. Clearlake only bought PrimeSport last year, after which it added Steve Furgal's Int’l Tennis Tours to the company's offerings. The Carlyle-led group is expected to continue with acquisitions. Clearlake is keeping a piece of the hospitality company, and current management is also buying a stake, Moorad said. Companies like PrimeSport make a healthy business off travel packages that include tickets, hotel rooms and VIP events and experiences (Daniel Kaplan, Staff Writer). MERGERS & ACQUISITIONS' Allison Collins reported PrimeSport's management and Clearlake "will both retain stakes in the company" (THEMIDDLEMARKET.com, 2/17).
