The SpringHill Company sells minority stake to investor group led by RedBird Capital

The SpringHill Company, the US media and content company led by CEO Maverick Carter and chairman LeBron James, has sold a minority stake to a group of investors led by private investment firm RedBird Capital Partners.

LeBron James (photo: All-Pro Reels via CC)

While the terms of the deal were not disclosed, SpringHill said the investors had acquired a “significant” minority stake, valuing the company at around US$725m in total.

Other investors in the deal were Fenway Sports Group, which owns both Liverpool Football Club and the Boston Red Sox, sporting giant Nike and Epic Games, the company behind the online game Fortnite.

SpringHill said the investment will give it the resources and expertise to pursue significant new growth initiatives including new markets outside of North America, acquiring valuable new IP, pursuing M&A and investing in emerging creators. SpringHill also said it will extend support to creators building games and other digital experiences and work with Epic Games to bring “unique content to the metaverse.”

One of SpringHill’s existing investors, UC Investments, also increased its investment as part of the transaction. Chicago-based investment services company Main Street Advisors served as advisor to SpringHill in the deal.

“Maverick and LeBron have created an impressive media content platform led by a creative leadership team that has built a unique mission-driven brand,” said Gerry Cardinale, founder and managing partner at RedBird.

“Our partnership with SpringHill should enable us collectively to optimise that mission with scalable capital and a business-building mentality that will continue to elevate more diverse voices and a drive towards greater empowerment.”

The SpringHill Company houses three main divisions: Uninterrupted, a media and consumer product brand that aims to empower athletes; SpringHill Entertainment, the company’s scripted and unscripted content division; and The Robot Company, a consultancy division focused on brand and culture. The divisions were brought together in June 2020 as SpringHill launched with a reported $100m in investment.

“With this new group of investors who are the very best in their respective industries we are going to be able to empower our community and every creator to do their most inspiring work and achieve their most ambitious dreams,” said Carter.