Casey Wasserman is one step closer to selling his agency.
Providence Equity Partners today announced an additional investment in The Team (formerly Wasserman) to help the agency buy out its founder. Michael Watts will become the agency’s chief executive officer when the transaction closes. That is expected later this year. Terms were not dicslosed.
Also per the Wall Street Journal, Providence already had about a 60% stake in the agency this past April.
“We’re incredibly excited to further strengthen our partnership with THE•TEAM,” said Davis Noell, Senior Managing Director, Co-Head of North America at Providence. “The robust
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