Bain Capital is known across the radio industry for its dollar ties to such entities as Cherry Creek Radio and, famously, as one of the top investors in iHeartMedia predecessor Clear Channel Communications.
Now, Bain has teamed with Nextalia SGR to acquire a top sports and entertainment technology provider from Bruin Capital.
The purchase involves Deltatre, which offers over-the-top (OTT) streaming products enabling direct-to-consumer content distribution via the internet as well as data, graphics and live broadcast product offerings. Deltatre’s clients include some of the largest sports organizations in the world, including UEFA, NFL, MLB and MLS.
The transaction is subject to regulatory and other customary approvals.
With a presence in 14 countries, Deltatre operates globally and enables rights owners, media companies, broadcasters, telcos, content creators, distributors and other brands to create and deliver compelling solutions at scale to consumers and fans, the investors note.
Deltatre is expected to generate $180M of revenue in 2022.
Delatre CEO Andrea Marini will continue to lead the business with the existing management team and remain a significant shareholder in the company, Bain and Nextalia SGR said.
Bain Capital and Nextalia SGR received financial advice from HSBC and Nomura, and legal advice from Weil Gotshal & Manges and Legance and Gatti Pavesi Bianchi Ludovici.