Wasserman, the US-based sports marketing and talent representation agency, has completed its deal to acquire the UK agency CSM Sport and Entertainment.
CSM will initially continue to operate as a standalone company and will formally become Wasserman in 2024.
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Wasserman entered into a definitive agreement to acquire CSM in July.
The deal will increase Wasserman’s international portfolio and “the geographic reach to provide tailored services and an unrivaled network of relationships, skills, and specialisms to leading brands, properties, and talent across 27 countries and 62 cities worldwide.”
The agreement expands a presence for the company across Africa, Asia, Europe, Oceania, and North and South America and “allow the combined business to accelerate growth across the board.”
The investment and buyout firm Providence Equity Partners is an investor in both Wasserman and Chime Communications, the parent company of CSM.
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By GlobalDataProvidence invested in Wasserman last November, having acquired Chime in two stages, split across 2015 and 2019.
Casey Wasserman, chairman and chief executive of Wasserman, said: "The completion of the Wasserman-CSM deal is another exciting and important milestone in Wasserman’s growth as we continue to build a company that serves the best talent, brands, and properties across the world.
“I, along with the entire Wasserman team, am looking forward to working with Matt Vandrau and his colleagues as part of a world-class management group running a global platform that powers the business of sports, music, entertainment, and culture.”
Matt Vandrau, group chief executive of CSM, added: “We are hugely excited about the future following the completion of the Wasserman-CSM acquisition. For me, this is more than a sale of our business.
“It’s the combining of expertise that brings together the brightest and the best in the world of sport, music, entertainment, and culture. This is the start of what will be an incredible new chapter, and I look forward to working alongside Casey and team to ensure sustainable success.”
The acquisition of CSM represents Wasserman’s 12th in the past two years. Last month (September), it purchased entertainment management and production company Brillstein Entertainment Partners, formally launching its entertainment vertical.
In 2022, Wasserman acquired entities including The Montag Group, Esportif, Mullhaupt Management, Jey Sports Management, and BSE Media Group.
