Sports marketing group Two Circles, known for its collaborations with Formula One motor racing and the International Olympic Committee, is reportedly in advanced talks for a £250 million acquisition by British buyout firm Charterhouse.
Sources indicate that an official announcement regarding the deal could be made as early as this week. City insiders revealed on Tuesday that discussions surrounding the acquisition had been ongoing for a considerable period.
Founded by former international athlete Gareth Balch, Two Circles has been under the ownership of Bruin Sports Capital since 2019. The company specialises in utilising data on sports fans to assist clients in effectively targeting their audiences. Its diverse clientele includes partnerships with the Premier League, NFL, and the upcoming Los Angeles 2028 Olympic Games.
WPP, the FTSE-100 marketing services group, has been a longstanding supporter of Two Circles, having acquired a majority stake in the business in 2015. The sports marketing group itself has demonstrated acquisitive behaviour, notably acquiring sports sponsorship agency TRM Partners in 2020 for approximately $45 million.
City sources confirmed that discussions regarding the acquisition by Charterhouse had been ongoing for some time. If successful, this deal would represent a rare UK acquisition for Charterhouse, a firm that was previously a co-owner of companies such as the AA and Saga. Despite its historical presence, Charterhouse has been relatively inconspicuous in recent years amid a flurry of private equity deal-making.