Blackstone (NYSE:BX) announced July 1, 2021 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 the recent 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.
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.”
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.
“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.”