Mergers and acquisitions now have involved one of the notable operations associated with collectable cars.

On Thursday, IMG, an Endeavor company and a global leader in events, media, sports and fashion, announced that it has acquired a majority stake in Barrett-Jackson, one of the premier collector car auction and live events companies.

The companies said through a news release that this investment comes at a time when enthusiasm around collector cars and live events, demand for auto-related content and collector car prices are at a record high — and as car collectors are increasingly trending younger.

Barrett-Jackson was founded in 1971 by Tom Barrett and Russ and Nellie Jackson, who are the parents of chief executive officer Craig Jackson.

Since Craig Jackson took over the business in 1995, Barrett-Jackson said it has been at the forefront of innovation, from the introduction of the popular no reserve auction format and broadcasting of its bidding and events to more than 200 territories via A+E Networks, to developing best-in-class proprietary technology and expanding beyond classic cars.

More recently, the company entered the online car listings and auction business through its acquisition of the Collector Car Network (CCN), the parent company for ClassicCars.com and AutoHunter.com, which garner more than 5 million monthly online visitors.

Barrett-Jackson’s events and high-energy auctions in Scottsdale, Ariz., Las Vegas, Palm Beach, Fla., and Houston attract many of the world’s most prominent auto collectors, fans and celebrities, as well as millions of TV viewers, and see annual sales of more than 3,600 cars at no reserve.

Its flagship Scottsdale event, founded in 1971, auctions highly sought-after and valuable automobiles and annually welcomes more than 300,000 attendees, making it one of the oldest and largest collector car auction events in the world.

IMG, which owns, operates and commercially represents hundreds of events around the world, including Frieze art fairs, the Madrid and Miami Open tennis tournaments, Formula Drift, and New York Fashion Week: The Shows, will serve as Barrett-Jackson’s strategic partner, according to the news release.

The announcement went on to mention Craig Jackson and his Scottsdale, Ariz.-based team, including president Steve Davis, will look to leverage IMG and Endeavor’s global network and expertise in building world-class event experiences and brands to further enhance and grow the business.

“We have long been admirers of Barrett-Jackson and have seen first-hand the scale, excitement and 50 years of tradition surrounding their events,” Endeavor chief executive officer Ariel Emanuel said in the news release. “Like IMG, Barrett-Jackson is a pioneer of its industry, and we look forward to working with Craig and his team to build on its impressive legacy across categories including experiences, hospitality, content, marketing and partnerships.”

Craig Jackson said, “Pairing Barrett-Jackson with the unique power of the Endeavor network is an unparalleled opportunity for our company, immediately opening doors to amplify and accelerate the growth of Barrett-Jackson as a global lifestyle brand.

“I couldn’t be more excited to have the best partner as we look to optimize our fan experience and create new touchpoints for car enthusiasts around our live events and media offerings,” Jackson went on to say.

And Davis echoed similar sentiments, saying: “After more than 25 years with Barrett-Jackson, I can’t wait for this next chapter for our customers. We’ve built something incredibly special and with the expertise and relationships of IMG, Craig and I look forward to elevating our offering and attracting a whole new generation of fans.”

Moelis & Co. served as exclusive financial advisor to Barrett-Jackson. Eisner, DLA Piper and Perkins Coie acted as legal advisors to Barrett-Jackson.

Latham & Watkins acted as legal advisor to Endeavor.