Private equity firm Clearlake Capital Group LP has acquired a majority stake in PrimeSport Inc.
PrimeSport offers tickets, corporate and fan travel packages and hospitality events for corporations, professional sports teams and fans. The company develops partnerships with teams that gives members access to sporting events, including the NCAA Final Four, BCS National Championship, Super Bowl and Daytona 500.
PrimeSport expects the Clearlake investment to expand its product offerings and help it grow e-commerce capabilities. Terms of the deal were not disclosed.
Clearlake, headquartered in Santa Monica, Calif., manages about $1.4 billion in equity capital. On Jan. 6, the firm announced that it was combining Tolt Services Group and Kyrus Solutions Inc. into a retail information consulting group called Tolt Solutions Inc.
Chris Petrossian, Peter Stack and Francis Tran from Lincoln International served as PrimeSport’s financial advisers. Prospect Capital Corp. provided debt financing. Cooley LLP acted as Clearlake's legal counsel on the deal.