U.S. private equity firm GTCR, LLC has completed the acquisition of LiveBarn Inc., a Montreal-based company specializing in live streaming amateur and youth sports events across North America. The transaction is valued at over US$400 million.

Strategic Acquisition by Ascent Sports Group

This deal marks a significant investment in the rapidly evolving sports technology sector and is the inaugural transaction for GTCR’s newly formed platform, Ascent Sports Group. Ascent Sports Group aims to capitalize on the fragmented market for technological solutions within the youth and amateur sports landscape.

Investment Details and Funding

A portion of the funding for the acquisition was provided by Ares Management, a previous LiveBarn investor, who will continue to hold a stake in the company. Management also rolled over equity in the deal, and the transaction was managed by Raymond James. Specific financial terms were not disclosed.

LiveBarn's Innovative Streaming Technology

LiveBarn utilizes a patented, automated system with multiple cameras positioned around playing surfaces. This system tracks the action, providing a broadcast-quality viewing experience to audiences regardless of location. The company expanded rapidly by providing venues with cameras at no cost in exchange for exclusive streaming rights, then charging subscription fees and sharing revenue with facility owners.

Features and Reach

LiveBarn’s service offers more than just live streams, including play tracking and individual player performance breakdowns. Players can also share clips on social media. The platform currently has cameras installed at over 4,000 playing surfaces across the U.S. and Canada.

Leadership Transition

Farrel Miller, LiveBarn’s founder, will join Ascent’s board of directors. Raymond Giroux, the company's chief operating officer and a former National Hockey League defenseman, will succeed Miller as CEO. Miller previously founded JumpTV Inc., a pioneering internet live-streaming service.

Recent Market Trends

The acquisition follows a trend of mergers and acquisitions in the youth sports and sports technology markets. Montreal-based Sportlogiq Inc., an AI-driven sports analytics provider, was recently acquired by Teamworks. LiveBarn’s revenues were approximately $80 million at the time of the deal.

Brand Portfolio and Investor Base

LiveBarn operates multiple brands, including GameOnStream (hockey in Ontario), BeTheBeast (basketball and volleyball), and MNHockey.TV (Minnesota high school hockey). Previous investors included individuals connected to the Montreal Canadiens and Cirque du Soleil, as well as Susquehanna Growth Equity, Rho Canada, and BDC Capital Growth Equity Partners.

Ascent CEO Gary Swidler highlighted LiveBarn's strong presence in youth hockey and expressed excitement about enhancing the digital experience for users.