Arena Group Reveals New Investments
The Arena Group has announced the completion of a new equity fundraising of £16.5m in a partnership deal with the specialist sports fund, Sports Investment Partners (SIP) and growth capital investor, MML Capital.
The two investing companies will together take a significant minority stake in the event services company, supporting the existing management structure with its plans to develop the global business.
Arena Group CEO Greg Lawless plans to use this new investment as a catalyst for further global expansion.
Lawless said: ‘It gives us great flexibility at a time when we are looking to expand beyond our current bases in the UK, Portugal, Abu Dhabi, Singapore and Dubai to reach excellent new opportunities in the Far East.’
The deal provides Arena with both equity and expertise as Matthew Wheeler, a senior figure in the sports marketing industry and managing partner of SIP, takes over as chairman.
A former professional cricketer with Northants CCC, Mr Wheeler also sits on the board of the Professional Cricket Association as a non executive director.
Mr Wheeler added: ‘Arena is a highly visible, successful company, synonymous with world-class performance and the very best in sporting endeavour. Growth continues to be steady in the global sports market and Arena is now well positioned to be part of that global growth.’
