Private equity firm Palatine has agreed to acquire a stake in sports and media law firm Centrefield to fund its domestic and international expansion, subject to regulatory approval.
Palatine is deploying capital into the Manchester-based practice from its £254m Buyout Fund V. Centrefield plans to expand organically and via M&A, focusing on the US and key European markets.
Founded in 2015 by Edward Canty, David Bentham and Matthew Bennett, all former partners at Brabners, Centrefield has a headcount of 33, including seven partners. The firm acts for clients across major sports, including most Premier League and English Football League clubs, as well as Major League Soccer in the US. It has reported 20% year-on-year revenue growth and tripled in size since launch.
Following completion of the transaction, Centrefield will retain its brand, existing management team and partner-led structure. Palatine Partner Tom Wildig and managing partner Gary Tipper will join the firm’s board, with a Non-Executive Chair to be appointed in the coming months.
Wildig said: “Centrefield is an outstanding law firm with a stellar reputation in its sector and amid ever-increasing global interest in sport and a complex and evolving regulatory climate, the potential for further growth is very strong.
“At Palatine we love to work with entrepreneurial and ambitious management teams committed to doing business the right way. Centrefield has all these attributes and we look forward to helping the team continue to provide best-in-class advice to more federations, clubs and players around the world.”
Canty added: “After a very successful 10 years in business, the partners decided that if we wanted to maximise Centrefield’s potential to be the leading global specialist sports law firm we would need an experienced and collaborative strategic investment partner to support us on the next stage of our journey.
“This strategic investment will be transformative for Centrefield, allowing us to further invest in technology and in our people, while continuing to broaden our sector specialisms, so that we can enhance the service and value we deliver to our clients.”
