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Shamrock Capital passes Harlem Globetrotters franchise to Herschend

2 Oct 2013

Harlem GlobetrottersLA-based private equity firm Shamrock Capital has sold legendary basketball exhibition franchise the Harlem Globetrotters after owning the team for the last eight years.

Shamrock has exited the business to Herschend Family Entertainment Corp, the largest family-owned themed attractions business in the US.

The Globetrotters, which were originally formed as the Savoy Big Five in the late 1920s, perform more than 400 live events across the world each year entertaining crowds with their basketball skills, comedy and athleticism.

Shamrock partner Michael LaSalle said, “We feel very fortunate that we had the opportunity to be stewards of this treasured American brand.

“The current team has enabled the Harlem Globetrotters to entertain more families than ever before, and we look forward to watching the next successful chapter of this storied franchise.”

Shamrock closed its third buyout fund on $400m in July 2011, and uses it to invest in companies seeking $15m to $75m of capital in both control and non-control transactions.

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