Key Takeaways:
- Chicago-based PE firm GTCR acquired LiveBarn for approximately $400 million
- LiveBarn operates streaming services across 1,900+ facilities in 49 U.S. states and 10 Canadian provinces
- The deal advances GTCR’s strategy to invest in the youth sports ecosystem through newly formed Ascent Sports Group
- Transaction follows 3Step Sports exploring a sale, signaling continued PE interest in youth sports infrastructure
Chicago-based private equity firm GTCR has acquired LiveBarn, a youth sports streaming service, in a deal valued at approximately $400 million, according to two private equity sources familiar with the transaction.
The sale follows a months-long process that began when LiveBarn went to market last spring with Raymond James serving as the sell-side advisor. The company’s investors include Susquehanna Growth Equity and Ares, with Ares also providing part of the financing for GTCR’s acquisition, according to The Globe and Mail, which first reported the sale.
Founded in 2015, LiveBarn provides live streaming and on-demand video broadcasting for youth and amateur sports events across more than 1,900 facilities in 49 U.S. states and 10 Canadian provinces. The platform primarily serves hockey venues and allows users to stream live games, watch replays, and download clips, serving players, coaches, and family members who cannot attend events in person.
The acquisition aligns with GTCR’s stated intention to invest in the “fragmented youth and amateur sports ecosystem,” according to a January 20 statement. The firm has partnered with Gary Swidler to form Ascent Sports Group as part of this strategy.
GTCR is known for fintech investments, including its acquisition of a 55% stake in Worldpay in early 2024 at an $18.5 billion valuation. The firm sold Worldpay to Global Payments for $24.25 billion in a deal that closed January 12, reportedly doubling its investment.
The LiveBarn transaction is the latest major deal in the youth sports sector, where total annual parental spending is estimated at $40 billion. Earlier this week, Sportico reported that 3Step Sports, the largest operator of youth sports clubs in the U.S., has hired Goldman Sachs to explore a potential sale.
LiveBarn CEO Farrel Miller was not immediately available for comment. GTCR did not immediately respond to requests for comment.
Via: Sportico / Globe & Mail
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