United Talent Agency sells stake to private equity firm EQT

Jeremy Zimmer

US-based private equity firm EQT has bought an undisclosed stake in LA-based United Talent Agency (UTA).

EQT is acquiring the stake from investment firm Investcorp and other parties, with the deal set to make the private equity firm the largest shareholder outside of existing partners.

Investcorp bought into UTA in 2018 and said the deal represented “a highly successful investment” for its investors.

The acquisition will close later this month and is the latest major deal affecting LA-based agencies, with CAA buying ICM Partners last month for $750m. A year ago, Endeavor went public.

UTA, meanwhile, has also been expanding and recently acquired UK-based Curtis Brown Group.

Jeremy Zimmer, CEO of UTA, said the deal would help fuel the company’s next phase of growth. “They have deep international capabilities, a strong balance sheet and most importantly they truly appreciate and respect the culture that we have built at UTA.”