By Scott Soshnick
Bloomberg
On Location Experiences, the luxury sports-travel business part-owned by the National Football League’s 32 owners, has acquired PrimeSport, bringing together two of the biggest players in high-end travel to events like the Kentucky Derby.
Both firms are high-end sports travel agents of sorts, selling packages that include event tickets, lodging and exclusive access to celebrities and athletes. On Location offers experiences at the Super Bowl, the Final Four, the Daytona 500, Ryder Cup, and other events. In the music industry, the company’s partners include the Coachella and Bonnaroo festivals and Metallica.
John Collins, chief executive officer of On Location, which is also owned by RedBird Capital, Bruin Sports Capital and now the Carlyle Group, said the 3-year-old company will now look to expand globally.
Financial terms weren’t disclosed. On Location and PrimeSport have a combined revenue of about $550 million, according to a person with direct knowledge of the companies.
Musician Jon Bon Jovi previously held a stake in On Location. NFL owners have their position through 32 Equity, which oversees the league’s private equity investments.