18 Nov 20

Onside Law advised long-term client and leading sports sponsorship agency, TRM Partners (“TRM”), on its recent multi-million pound sale to Two Circles. TRM will be integrated within the Two Circles business, creating a data-driven sports sponsorship powerhouse backed by leading US private equity fund, Bruin Sports Capital.

As part of the deal, Two Circles also acquired a majority stake in TRM’s sister company RugbyX, the exciting 5 v 5 form of the game which made its much-anticipated debut at the O2 Arena last year.

Founded by ex-Manchester Utd executives Harry Horsley and Leo Thompson, TRM has been responsible for over US$700m of agreements for rights-holders such as the NFL, UEFA, the ICC, Chelsea and AC Milan.  Onside Law has advised TRM since it was established almost seven years ago in respect of many of its sponsorship deals and on the management buy-out of the business led by Harry and Leo in 2018.

The Onside Law team comprised partners Simon Thorp and Jamie Singer, senior corporate associate Ben Hanglin, associates Robin Cumming and Alex Brooks with support from Cambise Heron.

Harry Horsley, Co-Founder of TRM commented:

Onside Law have been with TRM since the very first week we were founded in 2014, guiding us through complex commercial negotiations with dozens of the world’s leading rights holders. When the time came to negotiate the sale of the business to Two Circles (backed by Bruin Sports Capital), Simon Thorp, Ben Hanglin, Robin Cumming and the Onside M&A team provided outstanding counsel throughout, taking what is often a stressful experience for founder sellers and turning it into a positive and rewarding process.”
Simon Thorp