Two of cricket’s leading talent management agencies have joined forces in a deal which will see TGI Sport, a private-equity backed sports marketing business, acquire Insignia Sports International.

Insignia, which is based at The Oval in London and run by founder Eddie Tolchard, has become a major worldwide agency in the last decade and represents many of the sport’s best players, particularly within men’s T20 cricket. These include Rashid Khan, Nicholas Pooran, Jofra Archer and Sunil Narine.

They also represent a number of high-profile coaches, including Brendon McCullum, Simon Katich, Matthew Mott and Daren Sammy, and have a broadcast division. Between them, Insignia and TGI represent around 240 active men’s and women’s players and 40 coaches.

Insignia have been purchased by TGI Sport, who are co-owned by private equity firms Bruin Capital and Quadrant Private Equity and whose cricket management business has also been known as TLA Worldwide. They represent a significant number of Australian and English cricketers, including Harry Brook, Aaron Finch and Danni Wyatt, and also work in the event management sphere with the ICC and major boards.

“We see TGI Sport as a natural fit to take Insignia forward and strengthen our offering,” Martin Jolly, the company’s global chief executive, said. “Adding Insignia’s talent to our existing client list will see TGI Sport become the leading cricket talent agency globally. This will maximise our presence in a sport that we are heavily involved in through players representation, commercial partnerships, media and technology.”

Phil Weston, the former Derbyshire, Gloucestershire and Worcestershire batter who is TGI’s head of cricket, said: “We are merging two of the most significant cricket talent businesses in the world which will result in unrivalled opportunities for the clients we represent, both on and off the pitch.”

The merger comes at a time where players and their agents are consolidating their influence in the global game, with the recent proliferation of franchise leagues – many of which overlap – inflating wages and increasing demand for players’ services. This week, five men’s T20 leagues are running simultaneously in Australia, Bangladesh, New Zealand, South Africa and the UAE.

The proportion of professional players who are represented by agents has grown significantly in the last decade and cricketers are increasingly aware of their value. That was further demonstrated by FICA, the players’ global union, who signed a landmark recent deal with Winners Alliance which is intended to resolve long-standing issues over image rights.

Tolchard said: “Insignia has always been a client-first business that prides itself on leading the way in terms of international cricket management. The landscape in which we operate is moving at a rapid pace, which means that the service and expertise that elite cricketers need to surround themselves with are also evolving.

“Combining what we already have with the additional support and resources of the global powerhouse TGI Sport will ensure that we can continue to deliver a world-class, forward-thinking, and proactive service that allows our clients to thrive. It’s a very exciting time for everyone involved.”