Wasserman Acquires CSM Agency in International Expansion Push
Sports agency giant Wasserman has reached a deal to acquire London-based CSM Sport & Entertainment. It is the largest acquisition for Wasserman since a private equity investment from Providence Equity in November.
Financial terms of the agreement were not released. The transaction is expected to close in the third quarter of 2023.
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CSM has more than 1,200 employees at 20 locations around the globe, and its sports marketing clients include insurer AIA, the Alpine Formula 1 team and rugby union squad British & Irish Lions. Providence is also an investor in CSM’s parent, Chime Communications.
Wasserman represents athletes across more than a dozen sports, including baseball, basketball, football and golf. Klay Thompson, Giancarlo Stanton, Rickie Fowler and 11 members of the U.S. women’s national soccer team—including Megan Rapinoe, Alex Morgan and Julie Ertz—are Wasserman clients. The agency has expanded from its athlete roots since it was founded by Casey Wasserman two decades ago; it now also represents musicians, brands and sports properties.
The deal continues the rapid consolidation in the sports agency business. Wasserman has been one of the most active, adding Mullhaupt Management, Jet Sports Management, BSE Media Group, Caric Sports Management and Squadra Sports Management over the last 13 months.
CSM reported revenue of £117 million ($150 million) last year in its Companies House filings, as well as operating profit of £4.9 million ($6.3 million). The UK is the biggest market for CSM, representing 78% of revenue. Last year, CSM acquired Phoenix Management Group, a UK-based cricket talent management firm.
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