Houlihan Lokey Advises Gersh
Houlihan Lokey is pleased to announce the successful placement of a senior secured credit facility for The Gersh Agency, Inc. (Gersh), a portfolio company of Crestview Partners (Crestview). Proceeds from the transaction were used to finance Gersh’s acquisition of U1st Sports, S.A. (You First), refinance existing indebtedness, and pay transaction-related fees and expenses. The transaction closed on November 20, 2024.
Founded in 1949 and headquartered in Beverly Hills, California, Gersh is a leading full-service talent agency consisting of award-winning actors, writers, producers, directors, and below-the-line talent in film, television, theater, comedy, branding, publishing, and digital media. Gersh is the largest remaining pure-play representation agency with more than 120 agents across its 10 departments who are steadfast in serving their clients and have built enduring relationships with some of the most prominent individuals in entertainment. In April 2023, Gersh received a minority investment from Crestview to support the agency’s next phase of growth domestically and internationally.
Founded in 2004, Crestview is a value-oriented private equity firm focused on the middle market. The firm is based in New York and manages funds with approximately $10 billion of aggregate capital commitments. The firm is led by a group of partners who have complementary experience and distinguished backgrounds in private equity, finance, operations, and management. Crestview has senior investment professionals focused on sourcing and managing investments in each of the specialty areas of the firm: media, industrials, and financial services.
You First is a global talent representation, brand services, and content marketing firm based in Madrid, Spain, that specializes in sports and entertainment. You First manages more than 1,000 active talents across several specialized firms and business units. The acquisition of You First will enable Gersh to broaden its global footprint with significant exposure in Europe and provide You First’s client base access to Gersh’s Hollywood infrastructure as they look to build brands beyond sports.
Houlihan Lokey served as the exclusive placement agent to Gersh, assisting the company in arranging, structuring, and negotiating the financing. This transaction highlights Houlihan Lokey’s ability to leverage its senior relationships with capital providers to secure an attractive financing for the client, which includes a complex multi-jurisdictional collateral package.
RELATED: Consumer Channels and Leisure, Private Funds Advisory