I'm sure everyone reading this issue has already heard this news, but I thought I'd be remiss in not including it given all of our past discussion on the rise of sports card collecting and the recent purchase of PCGS parent Collectors Universe. Here's Thursday's press release from PCGS rival Certified Collectibles Group, parent of NGC - they've been purchased by another Wall Street investment firm.
-Editor
Blackstone (NYSE:BX) announced today that funds managed
by its Tactical Opportunities business (Blackstone ) have agreed to acquire a majority stake in the
Certified Collectibles Group (CCG ) in a transaction valuing the company at more than $500 million.
Mark Salzberg, CCG’s founder, and Steven R. Eichenbaum, CCG’s CEO, will retain a significant
minority stake. Additional investors in today’s transaction include Roc Nation; Michael Rubin, founder
and executive chairman of Fanatics; SC.Holdings, a growth equity platform; Mastry, founded by Rudy
Cline-Thomas; Andre Iguodala; Daryl Morey, President of Basketball Operations for the Philadelphia
76ers; and Main Street Advisors, a leading investment advisory firm to prominent athletes, recording
artists, and other leaders across entertainment and business.
CCG is a leading, global provider of expert, impartial and tech-enabled services that add value and
liquidity to collectibles. Founded in 1987, CCG offers authentication, grading and conservation services
that have unlocked billions of dollars in secondary market value. Today, CCG sits at the forefront of the
fast-growing global collectibles industry with offices on three continents, robust digital offerings and
comprehensive certification services for collectibles.
Blackstone will seek 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. Blackstone is one of the
world’s leading investment firms with nearly $650 billion in assets under management and a strong
track record of creating value and a positive impact for the companies it acquires and the communities
that they serve.
C. C. Melvin Ike, Principal at Blackstone, said: As thematic investors, we look for exceptional
entrepreneurial teams succeeding in growing markets, and CCG is a great example. We have been
closely following the rise of the global physical and digital collectibles industry for several years and we
were drawn to CCG because of their leadership role in the categories that they serve, and Blackstone’s
ability to grow the platform through both organic and inorganic initiatives. We look forward to working
together to help the company continue and even accelerate its impressive growth trajectory.
CCG’s leadership team will remain in place, combining their experience and expertise with Blackstone’s
extensive resources. Over the last 35 years, CCG has expanded from collectible coins to comic books,
banknotes, magazines, concert posters, stamps, trading cards, sports cards and estate items. CCG has
certified more than 62 million of these collectibles, with a combined fair market value approaching $50
billion.
Mark Salzberg, founder of CCG, said: When I established CCG, I had a vision that we would transform
collectibles into an asset class that is trusted by collectors, dealers and investors around the world. It
has been incredible to be a part of this journey as we achieved and then exceeded these goals. I am
excited to join with Blackstone as we enter the next phase of growth for CCG and the collectibles
market.
We are thrilled to be partnering with Blackstone during this key point in the industry as the collectibles
market continues to accelerate and attract new collectors and investors, added Steven R.
Eichenbaum, CEO at CCG. From the moment we met the Blackstone team, we could tell that we
shared the same vision for the future of our company and the global collectibles industry.
To read the earlier E-Sylum article, see:
PCGS PARENT COLLECTORS UNIVERSE PURCHASED
(https://www.coinbooks.org/v23/esylum_v23n49a11.html)
Wayne Homren, Editor
The Numismatic Bibliomania Society is a non-profit organization
promoting numismatic literature. See our web site at coinbooks.org.
To submit items for publication in The E-Sylum, write to the Editor
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