Silver Lake and its co-investors have acquired 100% of the outstanding shares in Endeavor that they did not already own, other than rolled interests.
The private equity firm first announced the deal in April last year.
Newly named WME Group includes brands such as talent agency WME, marketing agency 160over90, IMG Licensing and Pantheon Media Group.
The now privately held Endeavor Group Holdings will retain its ownership stake in TKO Group Holdings which oversees properties such as Ultimate Fighting Championship (UFC), WWE and Professional Bull Riders (PBR). TKO also oversees premium hospitality company On Location.
Ariel Emanuel, who founded Endeavor in 1995, has become executive chairman after most recently serving as chief executive.
Mark Shapiro has become president and managing partner of WME Group, after holding the roles of president and chief operating officer. Shapiro will work with Christian Muirhead and Richard Weitz, WME co-chairs and now co-chairmen of WME Group.
Emanuel and Shapiro will continue as chairman and CEO, and president and COO of TKO, respectively.
Patrick Whitesell will leave to become the new CEO and founder of a new platform in partnership with Silver Lake to invest in, and scale properties and IP, across sports, media and entertainment.
“This remarkable moment — and the even more exciting future it launches — is thanks first and foremost to Ari Emanuel and Patrick Whitesell, and to the relentless and ambitious strategic vision they have shared for more than 20 years to build Endeavor into a global powerhouse across talent, brands, and IP spanning entertainment, media, and sports,” commented Egon Durban, co-CEO and managing partner of Silver Lake.
“Silver Lake is proud and honoured to be their partners since 2012 as they have continued to build the company. Over this period, revenue has grown by twentyfold. Silver Lake has previously invested on six separate occasions to support Endeavor and now, with this latest investment, it is the single largest position in our global portfolio.”
Shapiro added: “Our ability to deliver landmark partnerships, career-defining business opportunities, and enduring cultural moments is amplified by this transaction and the formation of WME Group.
“The Silver Lake team has proven time and again that they are all-in on representation and content, and our clients, partners, and employees will thrive under our new structure.”