NEWPORT BEACH, Calif.–(BUSINESS WIRE)–Feb 22, 2021–
Collectors Universe (“Collectors Universe” or the “Company”), a leading provider of value-added authentication and grading services to dealers and collectors of collectibles, today announced that the investor group led by entrepreneur and sports card collector Nat Turner, D1 Capital Partners L.P., and Cohen Private Ventures, LLC (the “Investor Group”) has completed its acquisition of the Company. As a result of the completion of the acquisition, shares of Collectors Universe common stock have ceased trading and are no longer listed on the NASDAQ Global Select Market.
Other members of the Investor Group include The Chernin Group (“TCG”), in addition to renowned athletes and collectors, including NFL offensive tackle Kelvin Beachum, NBA player Kevin Durant, NFL wide receiver Larry Fitzgerald, card collector and owner of the Arizona Diamondbacks Ken Kendrick, former World #1 tennis player Andy Roddick, and NFL quarterback Deshaun Watson, among others.
In conjunction with the completion of the transaction, Mr. Turner has been appointed Executive Chairman of the Company’s Board of Directors. Joseph J. Orlando continues to serve as President and CEO of Collectors Universe, which will retain its headquarters in Santa Ana, California.
Mr. Turner said, “Today represents an exciting new chapter for Collectors Universe, its dedicated employees, and hobbyists worldwide. The collectibles markets require scalable, modern infrastructure to support the maturation of the industry, increasing value of collectibles, and substantial demand for grading and authentication services. As a private company, we will have the flexibility to further invest in infrastructure, technology and R&D to reduce turnaround times and increase operational capacity, while protecting and enhancing the integrity and consistency of Collectors Universe’s best-in-class services.”
Mr. Orlando said, “As we enter the next phase of our growth, Collectors Universe’s mission to serve as the most trusted, go-to platform for collectors of all types of collectibles remains unwavering. I look forward to working closely with a passionate collector and experienced technology executive in Nat, as well as with our talented employees, to continue to strengthen our core business, develop new value-added products and services, and expand Collectors Universe’s presence both domestically and abroad.”
“I am proud to be joined by a premier group of financial investors and some of the foremost athletes and collectors to build upon Collectors Universe’s market leadership,” said Mr. Turner. “Together, we look forward to bringing hobbyists a tech-enabled, customer-centric business that is delivered by the collecting community, for the collecting community.”
About Collectors Universe
Collectors Universe, Inc. is a leading provider of value-added services to the collectibles markets. The Company authenticates and grades collectible coins, trading cards, event tickets, autographs and memorabilia (“collectibles”). The Company also compiles and publishes authoritative information about United States and world coins, collectible trading cards and sports memorabilia and operates its CCE dealer-to-dealer Internet bid-ask market for certified coins and its Expos trade show and conventions business. This information is accessible to collectors and dealers at the Company’s website, http://www.collectorsuniverse.com, and is also published in print.
About D1 Capital Partners
D1 Capital Partners is a global investment firm that operates across public and private markets. The firm combines the talent and operational excellence of a large, premier asset management firm with the flexible mandate and long-term time horizon of a family office. Founded in 2018 by Dan Sundheim, D1 focuses on investing in the global internet, technology, telecom, media, consumer, healthcare, financial, industrial, and real estate sectors.
About Cohen Private Ventures
Cohen Private Ventures invests long-term capital, primarily in direct private investments and other opportunistic transactions, and manages family office activities, on behalf of Steven A. Cohen and his family.
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CONTACT: Jonathan Gasthalter/Sam Fisher
Gasthalter & Co.
(212) 257-4170
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: RETAIL SPECIALTY OTHER RETAIL
SOURCE: Collectors Universe
Copyright Business Wire 2021.
PUB: 02/22/2021 09:00 AM/DISC: 02/22/2021 09:01 AM
http://www.businesswire.com/news/home/20210222005284/en
Copyright Business Wire 2021.
