Secondary Buyout • Media

Rizvi Traverse Management Exits ICM Partners

On December 16, 2019, private equity firm Crestview Partners invested in media company ICM Partners from Rizvi Traverse Management

Investment Context
  • This is Crestview Partners’ 2nd transaction in the Media sector.
  • This is Crestview Partners’ 34th transaction in the United States.
  • This is Crestview Partners’ 4th transaction in California.
Investment Fate
  • ICM Partners was sold to a strategic buyer in 2021.

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Investment Summary

Date December 16, 2019
Target ICM Partners
Sector Media
Investor(s) Crestview Partners
Sellers(s) Rizvi Traverse Management
Deal Type Secondary Buyout
Advisor(s) Lazard (Financial)
Sheppard Mullin Richter & Hampton
Latham & Watkins (Legal)

Target Company

ICM Partners

Los Angeles, California, United States
ICM Partners is a talent and literary agency. ICM represents clients in the fields of motion pictures, television, music, publishing, live performance, branded entertainment, and new media. ICM Partners was established in 1975 and is based in Los Angeles, California.
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Investor Overview 1

Investor

Crestview Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2004
PE ASSETS 10.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Crestview Partners is a private equity firm focused on challenging investment situations. Crestview targets opportunities across a broad range of industries, with a special interest in asset management, media, healthcare and financial service companies. The Firm looks to commit $100 to $250 million of equity capital in transactions valued between $500 million and $3 billion. Crestview Partners was formed in 2004 and is based in New York, New York.


Deal Context for Investor #
Overall 42 of 55
Sector: Media 2 of 4
Type: Secondary Buyout 11 of 13
State: California 4 of 8
Country: United States 34 of 44
Year: 2019 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-08-06 WideOpenWest

Englewood, Colorado, United States

WideOpenWest is a provider of high-speed Internet, cable TV, and phone serving communities in the U.S. WOW's operating philosophy is to deliver an employee and customer experience that lives up to its name. WideOpenWest was founded in 2001 and is based in Englewood, Colorado.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-07-30 Upwell Water

San Francisco, California, United States

Upwell Water is a specialty finance company focused on providing capital markets solutions to small & medium-sized water infrastructure assets. The firm partners with providers and end-users of water solutions with tailored financing alternatives. Upwell Water is based in San Francisco, California.

Buy -

Seller Profile 1

DESCRIPTION

Rizvi Traverse Management is an investment group that provides a variety of financing solutions. The Firm's Private Equity practice seeks opportunities across all industries and targets growth capital situations, turnarounds, bankruptcies, privatizations, PIPEs, and acquisition financings. Rizvi is based in Birmingham, Michigan.


Deal Context for Seller #
Overall 6 of 7
Sector: Media 2 of 3
Type: Secondary Buyout 3 of 3
State: California 4 of 5
Country: United States 6 of 7
Year: 2019 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-04 SESAC

Nashville, Tennessee, United States

SESAC is a Music Rights Organization that administers public performance, mechanical, synchronization and other rights. SESAC offers singular licenses for the works of its affiliated writers and publishers that aggregate both performance and mechanical rights in order to drive greater efficiency in licensing for music users, as well as enhanced value for music creators and publishers. SESAC was founded in 1930 and is based in Nashville, Tennessee.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-10 Playboy

Los Angeles, California, United States

Playboy is a brand management company that markets the company's brands through a wide range of media properties and licensing initiatives. Playboy was founded in 1953 and is based in Los Angeles, California.

Sell -