Fri, 24 Aug 2012 | MBO/MBI
Leading stock photo site Getty Images has been acquired by several of its own key management personnel and the Carlyle Group.
The parties grouped together to purchase the site from Hellman & Friedman for $3.3 billion. The previous owners had purchased Getty themselves in 2008 for $2.4 billion, leaving them with a healthy profit following the sale.
Hellman & Friedman's managing director Andy Ballard issued a statement regarding the acquisition: “We acquired Getty Images in 2008 because we believed in its strategic direction, growth potential, and capability to build on its leading position as one of the world’s premier media franchises.
“Our partnership exceeded our expectations, and has resulted in an outstanding investment for Hellman & Friedman.”
Getty Images co-founder and chief executive Jonathan Klein added that the deal will bolster the company's “ongoing strategy, strong management team and the talent of our dedicated employees”.
The deal will see Carlyle acquire a controlling state in the firm, while the company's co-founder and chairman Mark Getty and other members of the family will roll all of their shares and interest in the company into the multi-billion dollar deal.
The new owners are hoping to take the company forward and expand its already global reach and influence.
Offering for sale the business and assets of Project Pinnacle as a going concern, an independent chain of builders and timber merchants selling to trade professionals and the general public.
The company provides a comprehensive range of multimedia solutions for the wire, cable, tube, pipe and fasteners industries comprising print magazines, digital magazines, websites, digital platforms and social media benefitting from digital advertisi...
An established Irish based engineering business, providing supply, fabrication and erection structural steel solutions to customers across the island of Ireland and Great Britain.
28
|
Mar
|
NI pharmacy group acquires third site | BUSINESS SALE
A family-run community pharmacy group has expanded with the ...
28
|
Mar
|
Vehicle upcycling group falls into administration | ADMINISTRATION
Lunaz Group Limited, a vehicle electrification and upcycling...
28
|
Mar
|
Food service business acquired at more than 10x profits | BUSINESS SALE
Total Foodservice, a wholesale catering supplies business, h...
08
|
Oct
|
2018: Top Track 250 | BUSINESS NEWS
It's often difficult for businesses to achieve growth o...
13
|
Sep
|
Brintons Carpets bought by Carlyle in pre-pack deal | ADMINISTRATION
Brintons Carpets has been bought out by The Carlyle Group in...
27
|
Apr
|
Aviva Tower sale reaches final conclusion | COMMERCIAL PROPERTY
The sale of the Aviva Tower in London has entered its final ...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.