Elevate, a sports consulting firm, has recently acquired Fenway Sports Management’s Consulting Group. The deal brings together two complementary teams and will allow Elevate to scale faster. With the addition of the Fenway clients, such as Moderna, Santander Bank, Wasabi Technologies, Monster.com, and Cavendish Farms, to its roster of Procter & Gamble, Duracell, UKG and more, the combined portfolio will encompass more than 20 brands.
This acquisition is significant for Elevate because it builds on the success it has already had with Cameron Wagner’s group on its brand consulting efforts. The macro-climate in sports sponsorship spending has also contributed to this deal. Sponsor spending in sports has soared coming out of the COVID-19 slowdown and is expected to reach $109 billion by 2030 up from $63 billion in 2021 according to PwC estimates.
The acquisition will allow Elevate to bring together its strengths in data and insights with Fenway’s experiential live activations with brands. Over the past three years, Elevate Brand has activated client campaigns for various properties including the English Premier League, Formula 1, men’s and women’s World Cups among others. Revenue for the company has tripled during this time period.
In February, Elevate also acquired executive search firm SRI and launched Elevate Talent. Today Elevate operates in 12 cities across six countries.