The deal will see IEG’s sponsorship valuation, research, and measurement services and thought-leadership programming combined with Engine Shop’s multi-channel engagement marketing.

The company said it planned "a complete re-imagination" of IEG’s content and event platforms and a new set of research and valuation services.

IEG – which was founded in 1982 – will operate as an autonomous affiliate of Engine Shop and continue to be based in Chicago. Its valuation and measurement services will continue to support global brands and rights holding organisations across all lifestyle verticals.

Brian Gordon, Engine Shop, CEO said: "We are striving to build Engine Shop into the model, global engagement marketing agency. IEG’s proprietary services and events have made brands smarter for more than three decades. These are difference-making resources, and we are going to build on that with more tools, platforms and bold thinking at a time when the industry craves well-synthesised data to make the best, most effective decisions."

Bruin Sports Capital owns Engine Shop and this is the latest in its global expansion strategy.