Sorenson Capital, a Salt Lake City-based private equity firm, acquired a minority interest in Jet Set Sports, a New Jersey-based corporate hospitality services provider for the Olympic Games. Terms were not disclosed.
Sorenson Capital and Jet Set Sports today announced that Sorenson Capital has acquired a minority interest in Jet Set Sports, a Far Hills, N.J.-based provider of corporate hospitality services and packages for the summer and winter Olympic Games. Terms of Sorenson Capital’s investment in Jet Set Sports were not disclosed.
Founded in 1976, Jet Set Sports provides a broad scope of quality hospitality and ticketing services for the global Olympic market. The company serves as the Exclusive Official Hospitality Services Provider for the 2010 Vancouver Olympic Winter Games and was also the Official Hospitality Operator for the 2008 Beijing Olympic Games. Jet Set Sports has been a sponsor of the U.S. Olympic Team since 2002, and is also an official sponsor of the Olympic teams of Australia, Austria, Bulgaria, Canada and Sweden.
“We are delighted with the opportunity to invest in Jet Set Sports,” said Fraser Bullock, a managing director of Sorenson Capital and former chief operating officer and chief financial officer for the 2002 Olympic Winter Games in Salt Lake City. “It is an honor to join with Jet Set in supporting the Olympic movement.”
Several members of the Sorenson Capital team have been acquainted with Jet Set Sports since the 2002 Salt Lake City Olympic Winter Games, including Bullock, who also serves as a member of the IOC Coordination Commission for the 2010 Vancouver Olympic Winter Games.
“With this investment, Sorenson Capital is a great partner for Jet Set Sports,” said Sead Dizdarevic, chairman and CEO of Jet Set Sports. “The expertise of Fraser and his team will be key resources in allowing us to grow our ability to service the hospitality needs of the Olympic Movement.”
About Sorenson Capital
Sorenson Capital (www.sorensoncapital.com) is a private equity firm providing small- to middle-market buyouts and investments. Sorenson Capital is headquartered in Salt Lake City, Utah.
About Jet Set Sports
Jet Set Sports is a leading provider of Olympic Games hospitality packages and individual Olympic Games event tickets. Since 1984, Jet Set Sports has provided corporate clients with unparalleled hospitality experiences at Olympic Games through its VIP Hospitality Programs and Hospitality Management Services. For more information, please visit www.jetsetsports.com.