Eldridge Industries




























Eldridge Industries, LLC
Type

Private equity
Founded
2015; 3 years ago (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]




Contents






  • 1 History


    • 1.1 Media holdings




  • 2 References


  • 3 External links





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. ^ abc "Company Overview of Eldridge Industries LLC". Bloomberg L.P. August 16, 2018..mw-parser-output cite.citation{font-style:inherit}.mw-parser-output q{quotes:"""""""'""'"}.mw-parser-output code.cs1-code{color:inherit;background:inherit;border:inherit;padding:inherit}.mw-parser-output .cs1-lock-free a{background:url("//upload.wikimedia.org/wikipedia/commons/thumb/6/65/Lock-green.svg/9px-Lock-green.svg.png")no-repeat;background-position:right .1em center}.mw-parser-output .cs1-lock-limited a,.mw-parser-output .cs1-lock-registration a{background:url("//upload.wikimedia.org/wikipedia/commons/thumb/d/d6/Lock-gray-alt-2.svg/9px-Lock-gray-alt-2.svg.png")no-repeat;background-position:right .1em center}.mw-parser-output .cs1-lock-subscription a{background:url("//upload.wikimedia.org/wikipedia/commons/thumb/a/aa/Lock-red-alt-2.svg/9px-Lock-red-alt-2.svg.png")no-repeat;background-position:right .1em center}.mw-parser-output .cs1-subscription,.mw-parser-output .cs1-registration{color:#555}.mw-parser-output .cs1-subscription span,.mw-parser-output .cs1-registration span{border-bottom:1px dotted;cursor:help}.mw-parser-output .cs1-hidden-error{display:none;font-size:100%}.mw-parser-output .cs1-visible-error{font-size:100%}.mw-parser-output .cs1-subscription,.mw-parser-output .cs1-registration,.mw-parser-output .cs1-format{font-size:95%}.mw-parser-output .cs1-kern-left,.mw-parser-output .cs1-kern-wl-left{padding-left:0.2em}.mw-parser-output .cs1-kern-right,.mw-parser-output .cs1-kern-wl-right{padding-right:0.2em}


  2. ^ ab "Dodgers' Boehly Leads $100 Million DraftKings Investment". Bloomberg. Retrieved 10 March 2017.


  3. ^ "About Us". Eldridge.com.


  4. ^ ab "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. ^ ab "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. ^ ab 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. ^ ab Faughnder, Ryan. "'House of Cards' producer MRC merges with Dick Clark Productions and Hollywood Reporter publisher". Los Angeles Times. Retrieved 2018-03-29.


  22. ^ ab 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.




External links


  • Official website








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