Blackstone acquires Certified Collectibles Group
Blackstone has graded Certified Collectibles Group (CCG) and decided it’s worth investing in as they have acquired a majority stake. The company is valued at more than $500 million. Mark Salzberg, CCG’s founder, and Steven R. Eichenbaum, CCG’s CEO, will retain a significant minority stake. Investors include Roc Nation (aka Jay-Z), Daryl Morey, President of Basketball Operations for the Philadelphia 76ers, and more.
CCG was founded in 1987 and offers authentication, grading, and conservation services. CCG has certified more than 62 million of collectibles, with a combined fair market value approaching $50 billion.
Blackstone’s investment will help accelerate CCG’s growth as they invest in new employees, expands its geographic and product choices, invest in new technologies, and expands and develops its digital presence.
CCG’s leadership team will remain in place and will gain the expertise and resources Blackstone brings to the table.