The RLJ Companies
TypePrivately held
IndustryVarious
Founded2002
HeadquartersBethesda, Maryland
Key people
Robert L. Johnson
ProductsInvestment Holdings
AUM$5 billion [1]
Websitehttps://www.rljcompanies.com/

The RLJ Companies is an American asset management firm owned by entrepreneur Robert Louis Johnson.[2][3][4][5][6] After selling Black Entertainment Television in 2001, Johnson's first company, he created RLJ Companies in Bethesda, Maryland.[7][8][9] The company's network includes hotel real estate investment, private equity, financial services, asset management, insurance services, car dealerships, sports and entertainment, and video lottery terminal (VLT) gaming.[4][10] The company is headquartered in Bethesda and has additional offices in Charlotte, North Carolina; Little Rock, Arkansas; Los Angeles, California; San Juan, Puerto Rico, and Monrovia, Liberia.[11]

History

Robert L. Johnson founded The RLJ Companies in 2002 in Bethesda, Maryland.[7][8] Johnson serves as chairman of the company.[4] Previous to founding The RLJ Companies, Johnson owned BET, which he sold to Viacom in 2001.[12] He remained on at BET as its CEO through 2006.[4]

In 2001, Johnson and Tom Baltimore started RLJ Lodging Trust with six hotels.[13] RLJ Lodging Trust started as RLJ Development and changed its name when it went public on the New York Stock Exchange under RLJ on May 13, 2011.[14][15] The company operates in 21 states with 149 hotels under global brands including Courtyard by Marriott, Hilton Garden Inn, Hyatt Place and Embassy Suites Hotels.[16][17] In 2008, RLJ Companies formed a partnership with Global Building Solutions to build a 78-room luxury resort and spa in Monrovia, Liberia.[7] The RLJ Kendeja Resort & Villas opened in March 2009. Thomas J. Baltimore Jr. served as president and CEO of RLJ Lodging Trust until his resignation on April 27, 2016, so that he could assume a similar role with Hilton's REIT. Ross H. Bierkan was appointed CEO on August 1, 2016.[18]

David Rubenstein and Johnson partnered with Carlyle Group in 2006 to form RLJ Equity Partners, a middle-market equity firm.[13][19] RLJ Equity Partners invested in CVC, the largest tour operator in Latin America, in January 2010.[20] In September 2010, it partnered with Enhanced Recovery Corp to gain more presence in the Southeast.[21] It has also invested in Fleischmann's Vinegar, LAI International, TMone, Naylor and R. Thompson Trucking Inc.[21][22][23][24]

In 2014, RLJ Equity Partners acquired Naylor Association Solutions, with its headquarters in Gainesville, Florida.

Johnson collaborated with Mack McLarty and Steve Landers to create RLJ-McLarty-Landers Automotive Holdings, LLC in 2007.[25] It is the parent company for Little Rock, Arkansas based RML Automotive.[26] Johnson holds 60% of RLJ-McLarty-Landers Automotive Holdings, LLC, making it the largest minority-owned automotive dealership in the country.[13]

In response to the 2010 Haiti earthquake, Global Building Solutions collaborated with RLJ Companies to form Caribbean Opportunity Holdings in April 2010.[27]

Trading under NASDAQ as RLJAU, RLJ Acquisition was formed as a special-purpose acquisition company in December 2010 with the purpose of consummating business combinations.[28][29] H. Van Sinclair serves as CEO.[28]

RLJ Entertainment Inc. formed when the RLJ Companies acquired Acorn Media Group, Inc. and Image Entertainment Inc. in 2012.[13][14] It trades under the NASDAQ ticker RLJE.

References

  1. https://rljcompanies.com/about/
  2. Susie Gharib; Tyler Mathisen; Hampton Pearson; Mary Thompson (January 20, 2014). "News; Domestic". Nightly Business Report.
  3. Ashley Halsey III (August 6, 2013). "News of sale rocks readers, but many express optimism". The Washington Post.
  4. 1 2 3 4 "Robert L. Johnson Leaders Interview". Leaders Online. Retrieved April 16, 2014.
  5. Evan Weese (April 16, 2013). "Black Enterprise Entrepreneurs Conference coming May 15–18". Business First of Columbus Online.
  6. Alex Biles (March 13, 2013). "The Top 20 African-American CEOs in Business Today". Benzinga.com.
  7. 1 2 3 Stephanie Elam. "BET founder to build spa resort in war-torn Liberia". CNN World. Retrieved April 16, 2014.
  8. 1 2 Adam Bryant (November 12, 2011). "No Ranting and Raving Is Permitted". The New York Times. Retrieved April 16, 2014.
  9. Michael A. Fletcher (December 18, 2012). "BET founder offers plan to cut racial disparity in hiring; BET founder says Obama should ask firms to interview black candidates for top jobs to cut unemployment gap". WashingtonPost.com.
  10. Sergie Willoughby. "BET Founder Robert L. Johnson Inducted into Giants of Broadcasting Honors". The Network Journal. Retrieved April 16, 2014.
  11. "Association Management Company Naylor Acquired by RLJ Equity Partners". TSNN Trade Show News. Retrieved April 16, 2014.
  12. Louise Story (August 2, 2007). "CNBC Admirers Talk About Their Climb Up The Ladder". The New York Times. Retrieved April 16, 2014.
  13. 1 2 3 4 Dinah Eng. "Bob Johnson moves way beyond BET". CNNMoney. Retrieved April 16, 2014.
  14. 1 2 Dave McNary (October 3, 2012). "RLJ completes distribution acquisition; Company's purchase of Image Ent., Acorn Media creates new digital distrib". Daily Variety.
  15. Arlena Sawyers (May 7, 2012). "Johnson: Power in partnerships". Vol. 86, no. 6515. Automotive News.
  16. John Kell (February 2, 2011). "RLJ Lodging Trust Plans IPO". Retrieved April 16, 2014.
  17. Abha Bhattarai. "RLJ Lodging Trust plans to expand following latest public offering". The Washington Post. Retrieved April 16, 2014.
  18. "RLJ Lodging Trust gears up for transactions". Hotel News. Retrieved April 16, 2014.
  19. Mary Kathleen Flynn (March 1, 2012). "The RLJ Rule; BET founder Robert L. Johnson urges companies to seek minority candidates for executive openings". Vol. 47, no. 3. Mergers & Acquisitions.
  20. Dana Hedgpeth (January 8, 2010). "Carlyle acquires Brazilian tour operator; $250 million CVC deal advances D.C. firm's overseas growth plans". The Washington Post.
  21. 1 2 Jonathan Marino (September 20, 2010). "RLJ Teams With Enhanced Recovery". Vol. 23, no. 38. Mergers & Acquisitions Report.
  22. "Investing in his passion". Press Citizen. Retrieved April 16, 2014.
  23. "Emerald Deal Tops 2013 M&A Activity". ExpoWeb. Retrieved April 16, 2014.
  24. "RLJ Equity Partners Acquires R. Thompson Trucking Inc". Transport Topics. Retrieved April 16, 2014.
  25. "Difficult times yield big rewards for dealer group". Automotive News. May 4, 2012. Retrieved April 16, 2014.
  26. "Why Toyota of Lewisville got a new owner". Dallas Business Journal. Retrieved April 16, 2014.
  27. "RLJ Companies to Bring Jobs, Build Homes in Haiti". Black Enterprise. April 13, 2010. Retrieved April 16, 2014.
  28. 1 2 "RLJ Acquisition, Inc". NASDAQ. Retrieved April 16, 2014.
  29. "Johnson wheels and deals to fulfill ambitions for RLJ". The Washington Post. Retrieved April 16, 2014.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.