Los Angeles-based entertainment and sports agency Creative Artists Agency (CAA) is acquiring rival entertainment and sports agency, ICM Partners (ICM) for an undisclosed sum.
According a statement announcing the deal, the complementary combination of CAA and ICM “will create deeper, broader, and more competitive opportunities for clients in the ever-evolving entertainment, media, and sports landscapes”.
The transaction is expected to close later this year, subject to regulatory approval.
ICM brings to CAA a global roster of artists in film, television, music, comedy, theater, games, politics, and podcasting. The agency also operates a books division.
Further, ICM’s London-based ICM Stellar Sports, serves more than 800 clients around the globe and maintains offices in 10 countries.
ICM’s music roster includes stars like Nicki Minaj, Madison Beer, Little Simz, J.Cole, Khalid and others.
Founded in 1975, CAA is headquartered in Los Angeles, and has a significant presence in New York, Nashville, London, Beijing, and Shanghai, as well as offices in Atlanta, Charlotte, Chicago, Dallas, Denver, Geneva, Jacksonville, Las Vegas, Memphis, Miami, Munich, Orlando, Stockholm, and Toronto, among other locations globally.
In September 2017, CAA announced that Temasek had acquired a minority stake in its business.
TPG Capital retained its majority position in CAA following the Temasek transaction.
Originally founded in 1975 as International Creative Management, then rebranded as ICM Partners in 2012, ICM has offices in Los Angeles, New York, Washington DC, and London, and strategic partnerships in Europe and Asia.
“The strategic combination of CAA and ICM bolsters our collective resources, expertise, and relationships to deliver even more opportunities for our world-class clients to build their careers and their brands across multiple disciplines and platforms in an evolving marketplace.”
Bryan Lourd, Kevin Huvane, and Richard Lovett, CAA
CAA’s Bryan Lourd, Kevin Huvane, and Richard Lovett, said: “Today’s storytellers, athletes, thought-leaders, and trend-setters who can move, inspire, and attract large, global audiences have unprecedented opportunity and ability to achieve their goals and aspirations.
“The strategic combination of CAA and ICM bolsters our collective resources, expertise, and relationships to deliver even more opportunities for our world-class clients to build their careers and their brands across multiple disciplines and platforms in an evolving marketplace.
“Our strong financial position enables us to continue to expand and diversify our businesses, with service and representation remaining central to what we do and who we are.
“We’re fortunate to have a partner in ICM who shares our commitment to the widest and most inclusive vision possible for what our clients and company can accomplish together.”
“We’re thrilled to partner and combine forces with the talented CAA team.”
Chris Silbermann, ICM
ICM’s Chris Silbermann, who will join CAA’s shareholder board, said: “We’re thrilled to partner and combine forces with the talented CAA team.
“Together, we will build upon our accomplishments and entrepreneurial spirit, and continue to demonstrate an unwavering commitment to the best interests of our clients, as well as empowering new, diverse voices within the industry.”Music Business Worldwide