Agencies: US investment firm HIG Capital now owns 100% of Sportfive (formerly Lagardère Sports)

The American investment firm H.I.G. Capital has acquired the 24.9% of Sportfive's capital that it did not already own, according to the sports marketing agency on 26/07/2021.

Lagardère Sports and Entertainment has reverted to Sportfive, following the sale of the business by the Lagardère group to H.I.G. Capital on 28/05/2020. The American investment firm bought 75.1% of the shares on 22/04/2020. "This disposal sees Lagardère take a further decisive step in its strategy of concentrating all efforts and resources on developing Lagardère Publishing and Lagardère Travel Retail," explained the group, which had retained a minority stake of 24.9%.

H.I.G. Capital had signed a definitive agreement to acquire Lagardère Sports on 20/02/2020, a transaction subject to the approval of the French Competition Authority. The firm had previously made an offer for 75% of Lagardère Sports on 16/12/2019.

• "This planned disposal values Lagardère Sports at approximately €110m (€55m in net cash and €55m in liabilities), and the Lagardère Sports and Entertainment division as a whole at around €150m,"…