Blackstone to Acquire Certified Collectibles Group
July 01 2021 - 10:49AM
Dow Jones News
By Michael Dabaie
Blackstone Group Inc. said funds managed by its tactical
opportunities business agreed to acquire a majority stake in the
Certified Collectibles Group.
The investment firm said the transaction values the company at
more than $500 million. Blackstone said CCG's founder Mark Salzberg
and its CEO Steven Eichenbaum will retain a significant minority
stake.
Additional investors in the deal include Roc Nation; Michael
Rubin, founder and executive chairman of Fanatics; growth equity
platform SC.Holdings; Mastry, founded by Rudy Cline-Thomas; Andre
Iguodala; Daryl Morey, president of basketball operations for the
Philadelphia 76ers; and Main Street Advisors.
CCG offers authentication, grading and conservation services.
Blackstone said it plans to accelerate CCG's growth, enabling the
company to invest significantly in its current and planned
services, adding and training new employees, expanding its
geographic and product reach, acquiring new technologies and
developing its digital presence.
Goldman Sachs & Co. LLC acted as exclusive financial advisor
to CCG. Duane Morris acted as legal advisor to CCG. Weil, Gotshal
& Manges acted as lead legal advisor to Blackstone. Golub
Capital led the financing for the transaction.
Write to Michael Dabaie at michael.dabaie@wsj.com
(END) Dow Jones Newswires
July 01, 2021 10:37 ET (14:37 GMT)
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