NFL Partner On Location Experiences Acquires PrimeSport’s Business
By Michael Smith
Sports Business Daily
On Location Experiences, the NFL’s official premium hospitality firm, has acquired PrimeSport’s massive business that includes hospitality and ticket exchange rights to an array of events ranging from the Final Four to CFP games and several pro sports. On Location has largely built its business by cornering the market on Super Bowl hospitality and parties, but the deal with PrimeSport will significantly broaden OLE’s reach across sports and entertainment. On Location now touts the rights to 150 teams, leagues and events, including the Ryder Cup, Daytona 500 and multiple music festivals.
Through the arrangement, Carlyle Group, which previously had a controlling stake in PrimeSport, will take on a minority share of On Location. OLE’s ownership will now include RedBird Capital, Bruin Sports Capital, 32 Equity and Carlyle. For now, PrimeSport will continue operating under its current name as a division within OLE, but PrimeSport CEO Tim Brosnan has departed.
OLE CEO John Collins engineered the deal, with Paul Hastings serving as legal counsel. Kirkland & Ellis was PrimeSport’s counsel. Collins said On Location’s backing positions the company well to continue growing its array of services. “The PrimeSport acquisition provides scale for our offerings and capabilities,” Collins said. With the addition of PrimeSport, OLE now has more than 500 employees in nine offices.