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Kekst CNC handles Crestview Partners private equity firm as it takes a 45 percent stake in The Gersh Agency, a leading Beverly Hills and New York talent agency.
Founded in 1949 by Phil Gersh, the firm has 300 employees, of which 125 are talent agents. It is the No. 4 entertainment agency.
The partnership with Crestview marks the first time that Gersh Agency has brought in an investor that is outside the family.
As part of the transaction, senior managing partner Leslie Siebert will be promoted to co-president to serve alongside brothers David and Bob Gersh.
In noting the agency has maintained its independence for more than seven decades, Bob Gersh said Crestview is the right partner to accelerate domestic and international growth.
Crestview “is completely aligned with our agency ethos and it would bring to bear meaningful experience and infrastructure to support our continued growth as a client-first agency,” he said.
Kekst CNC vice chairman Jeffrey Taufield and partner Daniel Yunger represent Crestview, which manages more than $10B in aggregate capital commitments.
Publicis Groupe owns Kekst CNC.
Joele Frank represents Philadelphia-based Axalta Coating Systems as it agrees to merge with Amsterdam’s AkzoNobel in a deal valued in the $25B range.
Interpublic posted a 5.1 percent drop in Q3 net revenues to $2.5B as CEO Philippe Krakowsky reports the final financial results of the publicly traded company.
Joele Frank handles Pine Gate Renewables as the Asheville, NC-based solar power development company declares Chapter 11 in the aftermath of Donald Trump’s cuts to wind & solar tax credits.
Stagwell CEO Mark Penn reports Q3 net revenues jumped 6 percent to $614.5M, a record performance for a non-political period. Operating income soared 45.7 percent to $60.9M.
Joele Frank works for Klöckner Pentaplast as the German maker of plastic films declares Chapter 11. A successful reorganization would slash its its corporate debt by $1.5B.
