The Carlyle Group has agreed to acquire a majority interest in Talent Partners, a talent payroll, production support services and rights management services provider to the advertising industry. The transaction is expected to close in the second quarter of 2014. Equity for the investment will come from the Carlyle Equity Opportunity Fund.
Paul Muratore will continue in his position as President and Chief Executive Officer. Longtime investor Michael Donovan, who also serves as Executive Chairman of Mediaocean, will retain an investment stake in Talent Partners.
“We are impressed by the diverse, global capabilities of Talent Partners, its long-standing relationships with and the quality of its client roster, and its growth potential. We look forward to working with Paul and his team to expand their services to new and existing clients in the US and around the world,” said David Stonehill, Carlyle Managing Director.
Talent Partners is the world’s largest paymaster to on-air commercial talent, issuing over one million checks annually to performers around the globe. The company also provides other services including negotiations and business affairs, traffic and clearance, rights and royalty management, and signatory services. The company has more than 750 clients including 23 of the top 25 largest US advertising agencies and 23 of the top 25 largest US advertisers. The company has approximately 250 employees and has offices in New York (headquarters), Chicago, Los Angeles, London and Toronto (www.talentpartners.com).
“Carlyle’s investment is a validation of our vision for the future,” said Mr. Muratore. “It provides us with the resources to deliver new and innovative services to our clients and accelerate our global growth.”
The Carlyle Group (NASDAQ: CG) invests in buyouts, growth capital, real estate and leveraged finance in Africa, Asia, Australia, Europe, North America and South America. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, real estate, technology & business services, telecommunications & media and transportation. The firm employs approximately 1,600 people in 38 offices across six continents and is based in Washington, DC (www.carlyle.com).
© 2014 PEPD • Private Equity’s Leading News Magazine • 5-21-14