CSM Under New Providence Ownership - Sets Sights On North America And Asia

Global sport and entertainment business CSM is setting its sights on investing in North America and Asia following the completion by Providence Equity Partners (“Providence”) of the acquisition of Chime, CSM’s parent company.

Commenting on the future plans for the organisation, CSM Group CEO, Zak Brown said: “The global sponsorship market is strong and growing steadily.  North America is the largest sponsorship market by region and the biggest sports market in the world, while Asia is the fastest growing so it makes sense that our investment focus is in these two regions.

“This is an exciting time for the world of sport.  We will see many changes in sport, from governance and the role of sponsors to fan engagement and evolving sport formats.  Through our presence in 19 countries, CSM is active in every sport with world-class services from strategy to execution.  Beyond sports business experts and sports enthusiasts, our leadership team have also competed in sport at the top level from the Olympic Games to motor racing, international hockey and cricket. Using the insights and instincts from that competitor experience, we will be at the heart of this growing industry challenging the status quo and driving innovation, engagement and activation,” added Brown.

Chaired by Olympic gold medallist, Sebastian Coe, CSM will build on its strong base across Asia and will open a new office in Japan.

“Sport is the greatest human connector and the most effective social network on the planet,” said Coe.  Asia, in particular provides us with great opportunities.  51% of the world’s population and 60% of the world’s population under 24 years old live in the Asia Pacific region.  It boasts six of the top 10 fastest growing economies and is hosting a staggering number of world sporting events between 2018 and 2022 including three Olympic Games, two Asian Games, a Commonwealth Games and a Rugby World Cup.  This will be an extraordinary decade for sport in the Asia Pacific region and we have significant experience and expertise to share.”

While the investment focus in the short term is on North America and Asia, CSM’s European, Middle East and Latin America operations will continue to grow strongly, particularly on the success of the 2015 Rugby World Cup.  Following a busy Football World Cup in Brazil last year, CSM Latin America is looking forward to an equally strong 12 months with significant contracts in place for the 2016 Rio Olympic and Paralympic Games.

CSM has started working with new owner Providence on a growth plan that will include both acquisitions and organic growth.

“Providence has experience, knowledge, vision and funds that will enable us to invest in CSM’s global business.  It also has a great portfolio of businesses around the world in sport, entertainment, telecommunications and education.  These business provide new opportunities for us and for them,” said Brown.