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ICM Partners Sells Minority Stake to Crestview Private Equity Firm

The investment will go toward fueling ICM’s global expansion

ICM Partners announced on Monday that it has sold a minority stake in the company to New York-based private equity firm Crestview Partners as a strategic investment to help fuel the talent agency’s growth.

The investment is somewhere around $150 million for a one-third stake in the company, an individual with knowledge of the deal told TheWrap.

The deal was announced by ICM managing director Chris Silbermann, who said that the strategic investment will help accelerate its domestic and international expansion, enhance services and provide more resources to its clients.

“We have always dedicated ourselves first and foremost to our clients and are proud to be a singularly focused representation company,” Silbermann said in a statement. “As our team strategized about growing the agency to be the best it could for our clients, we believed Crestview, with its strong track record of backing media companies, was the ideal partner for us. We are philosophically aligned and excited to take full advantage of the growth opportunities ahead.”

In the last several years ICM Partners has grown to 600 employees with offices in Los Angeles, New York, Washington DC and London. In 2017 agency made key acquisitions Headline Media News and The Royce Carlton Agency, which enhanced its broadcasting and speakers businesses. Last year, ICM augmented its publishing business, acquiring The Sagalyn Agency, and also bought the Canadian based, Just For Laughs Festival and Comedy Brand.

Crestview, which was founded in 2004, focuses on the middle market. The firm manages funds with over $9 billion of aggregate capital commitments, and has senior investment professionals focused on sourcing and managing investments in each of the specialty areas of the firm: media, industrials, energy and financial services.

“ICM Partners, under the leadership of Chris Silbermann, has experienced dramatic growth both organically and through targeted strategic acquisitions,” Brian Cassidy, partner and head of media at Crestview, said in a statement. “We are thrilled to partner with Chris and the dedicated agents and senior management team at ICM Partners, to help accelerate their expansion at a time of unprecedented global demand for content, content creators and the artists that bring it all alive. With a strong leadership team and a sole focus on client representation, we are confident that ICM is well-positioned for further success in this industry.”

ICM partnership will hold onto majority ownership in the deal and the agency said that all ICM Partners employees, including assistants and support staff, will benefit financially from the deal.

ICM was advised on the deal by investment bank Lazard, Sheppard Mullin Richter & Hampton and Latham & Watkins. Crestview was advised by Davis, Polk & Wardwell.