Eldridge Industries

Eldridge Industries, LLC
Private equity
Founded 2015 (2015)
Founder Todd Boehly
Headquarters Greenwich, Connecticut[1], U.S.
Website eldridge.com

Eldridge Industries LLC is a private equity investment firm headquartered in Greenwich, Connecticut, with offices in New York, London and Beverly Hills.[1][2][3][4] The firm invests in businesses across several industries, including, media, sports, hospitality, insurance, real estate development and asset management.[1][5][6][7]

History

Eldridge was formed in 2015 by CEO and Chairman Todd Boehly and President Anthony D. Minella, after Boehly purchased several media properties controlled by Guggenheim Partners.[7][4]

Eldridge has invested in businesses including Security Benefit Life Insurance, London-based real estate firm Cain International, media entity Valence Media, CBAM, Stonebriar Commercial Finance, and NPC International, operator of Wendy’s and Pizza Hut units in the U.S.[8][9][10][11][12][13]

In March 2017, Eldridge led a round of funding estimated at over $100 million for DraftKings, a daily fantasy sports contest provider.[2][14] The firm also provided financing to Prescient, a building technology platform, for $50 million in July 2018.[15]

Eldridge seeded Essential Properties Realty Trust, a REIT that went public in June 2018 under the symbol NYSE: EPRT.[16]

In 2018, Eldridge also became a partner for the Global Citizen Festival, which is being held in South Africa to honor the life and legacy of Nelson Mandela in his centenary year.[17]

Media holdings

In 2015, Eldridge put some of its media properties up for sale, including Adweek and the Clio Awards.[18] Adweek was sold a year later to Beringer Capital, a private equity firm that invests in digital media and marketing services.[19] The Clio Awards, a 58-year-old ad industry event, was sold to investment company Evolution Media in 2017.[20]

In February 2018, Eldridge announced it would be consolidating three of its entertainment properties into a new company, Valence Media. The properties included the Hollywood Reporter and Billboard industry trade publications; Dick Clark Productions, producer of the Golden Globe Awards and New Year’s Rockin’ Eve; and Media Rights Capital (MRC) an independent movie and TV production company.[9][21][22]

MRC’s co-founders Asif Satchu and Modi Wiczyk serve as co-CEOs of Valence and Boehly serves as Chairman.[21][23] Valence owns a minority stake in entertainment company A24.[22]

References

  1. 1 2 3 "Company Overview of Eldridge Industries LLC". Bloomberg L.P. August 16, 2018.
  2. 1 2 "Dodgers' Boehly Leads $100 Million DraftKings Investment". Bloomberg. Retrieved 10 March 2017.
  3. ↑ "About Us". Eldridge.com.
  4. 1 2 "Eldridge Industries". Crunchbase. Retrieved September 2, 2018.
  5. ↑ "Guggenheim Prepares To Sell Hollywood Reporter, Dick Clark Productions To Exec". Deadline.com. Retrieved 18 December 2015.
  6. ↑ "Guggenheim Media Spins Off Money-Losing Hollywood Reporter, Billboard to Company President Todd Boehly (Exclusive)". The Wrap. Retrieved 18 December 2015.
  7. 1 2 "Hollywood Reporter Parent Company Spins Off Media Assets to Executive". The Hollywood Reporter. Retrieved 3 January 2016.
  8. ↑ Leon Lazaroff (February 23, 2017). "Dick Clark Productions Deal Expected to Close in Coming Weeks". TheStreet.com.
  9. 1 2 Wallenstein, Andrew (2018-02-01). "Media Rights Capital, Dick Clark Prods., THR-Billboard Form Combined Company". Variety. Retrieved 2018-03-29.
  10. ↑ John Gittelsohn and Patrick Clark (August 17, 2018). "Dodgers Co-Owner Takes Stake in Beverly Hilton Hotel". Bloomberg L.P.
  11. ↑ Glen Fest (November 17, 2017). "CLO Roundup: CBAM marketing its fourth $1B CLO of the year". American Banker.
  12. ↑ "Stonebriar Commercial Finance Closes a $20 million Turn-Key Facility Lease". Stonebriar Commercial Finance. January 8, 2018.
  13. ↑ Ron Ruggless (June 28, 2018). "NPC restructures, names Steve Layt to head Pizza Hut division". Nation's Restaurant News.
  14. ↑ Curt Woodward (March 9, 2017). "Another $100 million in financing for DraftKings". The Boston Globe.
  15. ↑ Iris Dorbian (July 23, 2018). "Prescient snags $50 mln Series E". PE Hub.
  16. ↑ Kristy Westgard (June 21, 2018). "'Retail Apocalypse' Didn't Scare This Landlord Off an IPO". Bloomberg L.P.
  17. ↑ Lexy Perez (July 9, 2018). "Beyonce, Jay-Z Among Headliners at Global Citizen Festival Honoring Nelson Mandela Centennial". The Hollywood Reporter.
  18. ↑ Keith J. Kelly (May 31, 2016). "AdWeek, Clio Awards put up for sale". New York Post.
  19. ↑ "Adweek acquired by private equity firm Beringer Capital". TechCrunch. Retrieved 19 July 2016.
  20. ↑ "Clio Awards Acquired by Global Investment Firm Evolution Media". Adweek. Retrieved 2018-03-29.
  21. 1 2 Faughnder, Ryan. "'House of Cards' producer MRC merges with Dick Clark Productions and Hollywood Reporter publisher". Los Angeles Times. Retrieved 2018-03-29.
  22. 1 2 Diane Haithman (February 2, 2018). "Billboard-Hollywood Reporter, Dick Clark Productions and MRC Merge as Valence Media". Los Angeles Business Journal.
  23. ↑ Tony Maglio (February 1, 2018). "THR to Combine With Dick Clark Productions, 'House of Cards' Studio in New Todd Boehly Banner". TheWrap.
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