NGC sold to Blackrock

[ady]

Never been interested in grading myself, but will Blackstone acquisition end up compromising the grading system?

[ady]

Should have read Blackstone!

[SilverStorm]

7 minutes ago, ady said:

Never been interested in grading myself, but will Blackstone acquisition end up compromising the grading system?

Good question.   I did receive an email about the M&A from NGC.  Please see below for the email I received (cut and paste).

 

A Letter from CCG’s Mark Salzberg and Steven R. Eichenbaum Dear friends, We are excited to share some big news with you. For decades, we’ve poured our hearts and souls into becoming the leading provider of services that add value, safety and confidence to the world of collectibles. We’re proud of what we’ve done and what we stand for. Today, we are excited to announce that Blackstone, one of the world’s largest investment firms, has acquired a majority stake in the Certified Collectibles Group. We had always thought that we would never sell this incredible company, but when we were approached by Blackstone we quickly realized that we shared the same vision for a larger, more vibrant and more trusted collectibles market. We also knew that Blackstone’s enormous resources, expertise and experience would help propel CCG and the markets that we serve to new heights. With Blackstone’s support, we will accelerate our growth by hiring and training more graders, expanding our facilities, serving new markets, developing our digital offerings and much more. These efforts will benefit our customers, employees, company and industry. It is important for you to know that our accomplished leadership team and our hardworking employees will remain in place, ensuring continuity as we enter this next phase of growth. In addition, both of us will still hold a significant minority stake in the company. We and our entire team remain fully committed to you and the collectibles industry. Besides Blackstone, new investors in CCG include Roc Nation; Michael Rubin, Founder and Executive Chairman of Fanatics; SC.Holdings, a growth equity platform; Mastry, founded by Rudy Cline-Thomas; Andre Iguodala; Daryl Morey, President of Basketball Operations for the Philadelphia 76ers; and Main Street Advisors, a leading investment advisory firm for prominent athletes, recording artists and other leaders across entertainment and business. This amazing news is a testament to the extraordinary growth of the collectibles industry and the strength of CCG’s services. We are grateful for all of your support, and we look forward to an exciting future together. To learn more about this transaction, click here to read the official press release. Best wishes, Mark Salzberg, CCG Founder Steven R. Eichenbaum, CCG CEO

[ady]

 

19 minutes ago, SilverStorm said:

Good question.   I did receive an email about the M&A from NGC.  Please see below for the email I received (cut and paste).

 

A Letter from CCG’s Mark Salzberg and Steven R. Eichenbaum Dear friends, We are excited to share some big news with you. For decades, we’ve poured our hearts and souls into becoming the leading provider of services that add value, safety and confidence to the world of collectibles. We’re proud of what we’ve done and what we stand for. Today, we are excited to announce that Blackstone, one of the world’s largest investment firms, has acquired a majority stake in the Certified Collectibles Group. We had always thought that we would never sell this incredible company, but when we were approached by Blackstone we quickly realized that we shared the same vision for a larger, more vibrant and more trusted collectibles market. We also knew that Blackstone’s enormous resources, expertise and experience would help propel CCG and the markets that we serve to new heights. With Blackstone’s support, we will accelerate our growth by hiring and training more graders, expanding our facilities, serving new markets, developing our digital offerings and much more. These efforts will benefit our customers, employees, company and industry. It is important for you to know that our accomplished leadership team and our hardworking employees will remain in place, ensuring continuity as we enter this next phase of growth. In addition, both of us will still hold a significant minority stake in the company. We and our entire team remain fully committed to you and the collectibles industry. Besides Blackstone, new investors in CCG include Roc Nation; Michael Rubin, Founder and Executive Chairman of Fanatics; SC.Holdings, a growth equity platform; Mastry, founded by Rudy Cline-Thomas; Andre Iguodala; Daryl Morey, President of Basketball Operations for the Philadelphia 76ers; and Main Street Advisors, a leading investment advisory firm for prominent athletes, recording artists and other leaders across entertainment and business. This amazing news is a testament to the extraordinary growth of the collectibles industry and the strength of CCG’s services. We are grateful for all of your support, and we look forward to an exciting future together. To learn more about this transaction, click here to read the official press release. Best wishes, Mark Salzberg, CCG Founder Steven R. Eichenbaum, CCG CEO

Will they end up pumping out a so called higher rated coins of what should be to up the BU standard coin. Like I say this a market that does not intrest me but am aware of graded coins.

[Aiden2343]

“With Blackstone’s support, we will accelerate our growth by hiring and training more graders“

Is it too optimistic to hope this will reduce grading waiting times...?

Edited July 2, 2021 by Aiden2343

[SilverStorm]

Yeah probably.  BU standard coins do not always come out in perfect condition.   By adding more coin graders, they will be able to pump out more higher graded coins. And thus be able to sell to coin collectors who demand and willing to pay more for perfect coins.   

[Roy]

Will the slabs have Jay-Z on the label?

[westminstrel]

“New markets” - Hopefully they will start doing grading in Australia haha. Sending coins halfway around the world is a huge deterrent to me.

[dicker]

Usually when there is a private equity purchase, the company has unrealised potential for growth. Blackstone will likely inject cash and their own people to  drive the business to new markets and higher growth in existing markets.