Global alternative asset manager The Carlyle Group, along with Getty Images‘ current management and founders are joining forces to acquire the stock photography giant from Hellman & Friedman for a hefty $3.3 billion.
As a result, according to the release, Carlyle will acquire a controlling stake in Getty Images, while Getty Images Co-Founder and Chairman, Mark Getty, and the Getty family, will roll “substantially all of their ownership interests” into the transaction. Getty Images management, including Co-Founder and Chief Executive Officer Jonathan Klein, will also invest “significant equity’ in the company.
Carlyle Partners V, a $13.7 billion U.S. buyout fund, will provide equity financing for the investment, while J.P. Morgan, Barclays, Credit Suisse, Goldman Sachs and RBC Capital Markets “have provided committed debt financing for the transaction.”
As is per usual, the transaction won’t close until it gets regulatory approval, which is expected sometime later this year.
Updating as we have it.
March 17, 1807
Getty Images creates and distributes the world’s best and broadest imagery collections, making them available in the most accessible and usable way – 24 hours a day, every day. From contemporary creative imagery to news, sports, entertainment and archival imagery, their products are found each day in the full range of traditional and digital media worldwide.
Mark Getty and Jonathan Klein founded Getty Images in 1995 with the goal of turning a disjointed and fragmented stock photography market into…