Casey Wasserman’s talent and marketing agency will acquire his remaining ownership stake through a new investment led by Providence Equity Partners, resolving months of uncertainty regarding the company’s direction. Providence, a private-equity firm holding a roughly 60% share as of April, announced it will inject additional capital to facilitate the buyout of Wasserman’s interest. The investment will allow Providence to maintain its majority position in the agency, which Wasserman rebranded as The Team earlier this year. Financial terms of the transaction were not disclosed.

In conjunction with the ownership changes, Michael Watts, who has served as the agency’s president since 2014, is set to assume the role of chief executive officer, according to Providence.

The move follows Wasserman’s decision to place the agency on the market in February, shortly after the Justice Department released documents revealing flirtatious email exchanges dating back to 2003 between Wasserman and Ghislaine Maxwell, an associate of Jeffrey Epstein. Wasserman issued a public apology in the wake of the disclosures.

On Tuesday, Wasserman expressed his sentiments on departing the company, stating he leaves “with pride in what we created together, gratitude for those who made it possible, and confidence in what comes next.”