ICM Partners Sells Minority Stake To Private Equity Firm

– ICM Partners

ICM Partners is closing out 2019 with a huge deal, having sold a one-third stake in the agency to private equity firm Crestview Partners. The investment is valued at about $150 million and the funds will be used to help acquire other agencies and related assets, recruit top agents and “reward” ICM employees at all levels, according to Variety.

The company formerly known as International Creative Management became known as ICM Partners in May 2012 with the finalization of a management buyout of the company that saw investment firm Rizvi Traverse and former ICM chairman and CEO Jeffrey Berg selling their ownership interest in ICM to a partnership composed of dozens of the company’s core agents. The partnership structure was a result of ICM President Chris Silbermann purchase of the 40 percent of the company owned by Suhail Rizvi, who made his investment in 2005, allowing ICM to acquire Broder Webb Chervin Silbermann Agency in 2006.

Variety reports that with Crestview Partners’ investment, the partnership structure will remain the majority owner but some existing equity holders will be bought out.

“We structured it much differently than before,” Silbermann told Variety. “We have control of the agency. I am the CEO and that’s not changing. We control the board; it’s run by agents.”

Recent ICM Partners signings include Robin Thicke and Hannibal Buress.