A sports advertising group which works with Formula One motor racing and the International Olympic Committee is in superior talks to be bought to a British buyout agency for £250m.

Sky News has learnt that Two Circles, which was based by Gareth Balch, a former worldwide athlete, might announce a deal to be acquired by Charterhouse as early as this week.

City sources mentioned on Tuesday that the deal had been below dialogue for a while.

Two Circles, which has been owned by Bruin Sports Capital since 2019, makes use of knowledge on sports followers to assist its purchasers goal their audiences extra successfully.

It additionally works with the Premier League, the NFL and the Los Angeles 2028 Olympic Games.

WPP, the FTSE-100 advertising providers group, has additionally been a long-standing backer of Two Circles, having purchased a majority stake within the enterprise in 2015.

Two Circles has itself been acquisitive, shopping for TRM Partners, a sports sponsorship company, in 2020 for about $45m.

The deal will mark a uncommon latest UK acquisition for Charterhouse, which prior to now was a co-owner of firms such because the AA and Saga however which has been comparatively inconspicuous lately regardless of a deluge of personal fairness deal making.

One insider mentioned that Two Circles would proceed to be run by Mr Balch and the prevailing administration group after the takeover.

Charterhouse declined to remark.

Content Source: information.sky.com