Blackstone (NYSE:BX) acquires CCG (parent NGC)

Discussion in 'Numismatics' started by jultorsk, Jul 3, 2021.

  1. jultorsk

    jultorsk Well-Known Member Silver Stacker

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    A group of investors led by Blackstone Tactical Opportunities now holds a majority stake in the Certified Collectibles Group, in a transaction valuing the company at $500 million.

    Founded in 1987, CCG includes Numismatic Guaranty Corp., Numismatic Conservation Services, and Paper Money Guaranty, among other collectibles-related companies.

    According to a press release from Certified Collectibles Group, “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.”

    C.C. Melvin Ike, principal at Blackstone, said, “As thematic investors, we look for exceptional entrepreneurial teams succeeding in growing markets, and CCG is a great example. We have been closely following the rise of the global physical and digital collectibles industry for several years and we were drawn to CCG because of their leadership role in the categories that they serve, and Blackstone’s ability to grow the platform through both organic and inorganic initiatives.”

    https://www.coinworld.com/news/us-coins/investors-get-stake-in-ccg-ngc-parent

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    Comes as it was just in December 2020 announced that Collector's Universe (parent PCGS) was sold.

    "Entrepreneur and sports card collector Nat Turner is teaming up with D1 Capital Partners and Cohen Private Ventures, the family office of hedge fund billionaire Steve Cohen, to take Collectors Universe private for about $700 million."

    https://huddleup.substack.com/p/collectors-universe-a-700-million
     
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