The London talent agency that represents the likes of Simon Cowell, Graham Norton and Claudia Winkleman has been sold for £60m.
YMU, whose clients also include Nicole Scherzinger, Stacey Solomon and Ant and Dec, has been taken over by Permira Credit.
The private lending firm has snapped up YMU’s parent company, Yokozuna Newco Limited, in a move which saw Trilantic Europe exit the agency.
According to Deadline, which first reported the story, YMU’s chief executive Mark Bekhait has taken an equity stake in the business.
YMU, which acquired Digital Sports Mgmt in 2022 for just under £20m, is now looking to make further acquisitions.
The agency is chaired by Linda Yaccarino, the chief executive of Elon Musk’s X.
Writing on LinkedIn, YMU chief executive Mary Bekhait said: “Our capital structure and balance sheet is transformed, with much less debt – and we now have an access to investment capital. This is a deal that unlocks so much new potential for YMU, our colleagues, clients and customers.
“At the start of 2022 we had just launched a Social division – now Lucy Loveridge‘s team is the undisputed market leader in the space with signings including Mrs Hinch, Dr Julie, Jamie Laing, ShxtsnGigs and just recently Patricia Bright (with more to be announced in the coming days).
DSM, which we acquired in September 2022, is another digitally-powered area of growth, led by the excellent Tom Henderson and Robert Wadsworth.
“In just the first two months of 2024, clients including Claudia Winkleman, ShxtsnGigs, Evan Ferguson, Graham Norton, Amelia Dimoldenberg and Stacey Solomon – and too many more to list – have been doing their best work. Winning awards. Fronting hit shows. Breaking records. And all supported by the best-in-class teams at YMU.
“It’s a privilege for me to lead this most remarkable company, with its incomparable roster of clients – and the best is yet to come.”
According to its most recently available financial accounts, which were filed earlier this month, YMU posted a turnover of £41m in 2022 and a pre-tax loss of £16.2m.
Its results for 2023 are due to be filed with Companies House by the end of September this year.