Access Industries
| Company type | Private |
|---|---|
| Industry | Investment |
| Founded | 1986 |
| Founder | Leonard "Len" Blavatnik |
| Headquarters | New York , United States |
Area served | United States, Europe, Israel, Latin America |
Key people | Leonard "Len" Blavatnik (Founder) |
| Products | Investments in biotechnology, entertainment, external funds, global media, strategic equity, technology ventures, real estate |
Access Industries, Inc. is a privately owned multinational investment firm based in the United States, established in 1986 by entrepreneur Leonard "Len" Blavatnik. The company directs its investments toward seven key industries: biotechnology, entertainment, external funds, global media, strategic equity, technology ventures, and real estate. Its investment footprint spans across the United States, Europe, Israel, and Latin America. While its headquarters are located in New York, Access Industries also operates offices in London and Mill Valley, California.
The firm holds substantial ownership positions in various enterprises such as Warner Music Group, LyondellBasell, DAZN, Calpine Corporation, A24, Deezer, and Spotter.
History
Access Industries was founded by Len Blavatnik in 1986 as an investment entity.[1]
Among its initial ventures was the establishment of aluminum manufacturer SUAL in 1996, which later merged into UC RUSAL. In 1997, Access acquired a 40% interest in the Russian oil firm TNK.Cite error: Closing </ref> missing for <ref> tag Subsequently, in 2013, Rosneft purchased TNK-BP for $55 billion,[2]
In 2004, Access secured a significant shareholding in fashion brand Tory Burch.<ref>
The acquisition of Basell Polyolefins took place in 2005; after Basell's acquisition of Lyondell in 2007, the combined entity became known as LyondellBasell Industries. Forbes described this transaction as "the greatest private equity deal of all time."<ref>As of 2023, LyondellBasell ranked as the third-largest chemical manufacturer in the United States.<ref>
By 2006, Access had acquired approximately 70% ownership of UK pay television provider Top Up TV, later divesting its subscriber operations to Sky in 2013.<ref>In 2007, majority stakes were obtained in sports media company Perform Group and software developer Acision, which was subsequently acquired by Comverse in 2015.<ref> By 2010, Access’s portfolio included entities such as Icon Film Distribution UK, Perform Group, Top Up TV, Amedia, RGE Group, and Warner Music Group (WMG).<ref> On July 20, 2011,<ref>Access completed the acquisition of Warner Music Group for US$3.3 billion.<ref> WMG went public on Nasdaq in 2020.<ref>
In May 2016, Access initiated Access Entertainment, headed by former BBC Television executive Danny Cohen, with a focus on investments within entertainment media.<ref> Following an early investment prior to Facebook’s IPO, Access fully exited its holdings by late 2015.<ref>
From 2016 onwards, Access has maintained majority ownership of online sports streaming platform DAZN<ref> and French music streaming service Deezer.<ref> In 2018, Access alongside partners acquired energy company Calpine Corporation for $5.6 billion.<ref> That same year saw Access acquire London's historic venue Theatre Royal Haymarket.<ref>
Towards the end of 2022, Access divested its remaining major Russian asset by selling its stake in UC Rusal.<ref>
Natural resources and chemicals
Access Industries' portfolio encompasses enterprises in sectors such as oil, petrochemicals, power generation, aluminum, and biotechnology. The firm played a pivotal role in establishing the aluminum manufacturer SUAL in 1996 through strategic mergers and acquisitions. In 2007, SUAL combined with RUSAL and Glencore’s alumina division to form UC RUSAL, which went public on the Hong Kong Stock Exchange in 2010, raising $2.24 billion. By 2017, UC RUSAL had become the world's leading aluminum producer. Access Industries completely exited its ownership in UC RUSAL during the latter half of 2022, thereby withdrawing from significant Russian investments.
In 2005, Access acquired Basell Polyolefins, a Dutch company specializing in polyolefins. Basell then purchased Lyondell Chemical Company in 2007 for approximately $20 billion, creating LyondellBasell Industries. The company encountered financial distress during the 2008 economic downturn, with its US operations filing for bankruptcy protection in 2009. Thanks to financial backing from Access Industries, LyondellBasell reemerged from bankruptcy in 2010 with a valuation near $15 billion, ranking as the third-largest chemical company worldwide by net revenue. Access reacquired a substantial equity position in 2013 and held around an 18% stake as of 2017.
From 2013 onward, Access has owned Clal Industries Ltd. (CII), an Israeli industrial investment group with principal interests in Nesher Israel Cement Enterprises, Hadera Paper, Golf & Co., Clal Biotechnology, and logistics company Taavura. Additionally, it maintains a significant stake in EP Energy, an oil and gas producer operating across North America and Brazil. In August 2017, Access and its partners agreed to purchase Calpine Corporation for $5.6 billion.
Media and telecommunications
Access Industries has maintained investments across various media and telecommunications entities including Ice (Norway), RGE Group (Israel), Channel 10 (Israel), Noga Communications, and Sport 5 (Israel). It formerly held a majority ownership in Amedia, a prominent Russian film and television studio known for productions such as Poor Nastya, which secured exclusive HBO premiere rights within Russia in 2017. More recently, Access has invested in Warner Music Group and DAZN. In 2021, it joined other investors to fund Israel’s Reshet 13 free-to-air channel.
In 2004, Access partnered with co-investors to invest in Warner Music Group (WMG). Following WMG’s partial initial public offering on the New York Stock Exchange in 2005, Access maintained a sizable stake until eventually acquiring full ownership for $3.3 billion through a combination of cash payment and debt assumption.
The firm owns AI Film, a London-based company focused on film financing and production established in 2013. Since 2014, Access has held majority control (exceeding 85% by 2019) of DAZN Group Limited—a sports media enterprise formed by merging Inform and Premium TV. DAZN Group owns Sporting News and launched the DAZN sports streaming platform in 2016.
Access Entertainment was founded in May 2015 with Danny Cohen—former BBC director of television—as president. This division secured a 25% interest in international television producer Bad Wolf and formed financing collaborations with BBC Worldwide/Lookout Point and House Productions. In April 2017, Access Entertainment acquired James Packer’s shares of RatPac Entertainment along with the RatPac-Dune joint venture. By December 2021, Access divested its Bad Wolf stake to Sony Pictures Television.
Access Entertainment has provided financing for multiple A24 films including the 2023 release The Zone of Interest, executive produced by Len Blavatnik and Danny Cohen. The film earned Best International Feature and Best Sound honors at the 96th Academy Awards.
Technology
Access Industries initiated Access Technology Ventures in 2015 as a growth-focused investment division concentrating on pre-IPO unicorn companies. By 2017, its investment portfolio featured notable names such as Snapchat, Square, Yelp, Alibaba, Rocket Internet, Deezer, Gett, Spotify, Zalando, and DigitalOcean. In August 2017, the firm spearheaded a $300 million financing round for Essential Products, contributing $100 million itself. That same year, Access Industries established First Access Entertainment to nurture talent across music, entertainment, and fashion sectors. The company also committed $137 million in funding to Opendoor.
Real estate
Access Industries maintains a varied collection of hotel assets alongside commercial and residential real estate holdings throughout the United States, Europe, South America, and the Caribbean. Key properties include:
- Faena Group (Buenos Aires and Miami Beach)
- Grand-Hôtel du Cap-Ferrat (French Riviera)
- Grand Peaks (Denver)
- Ocean Club, A Four Seasons Resort (Paradise Island, The Bahamas)
- Sunset Tower Hotel (Los Angeles)
- One High Line (Manhattan, New York City)
- Aman Miami Beach (Miami Beach)
These investments underscore Access Industries’ strategic emphasis on luxury hospitality and prime metropolitan real estate markets.
Political activities
Access Industries has provided financial support to political candidates at various levels—local, state, and federal—in the United States. In 2015, the company contributed $1.8 million to Super PACs backing Republican presidential hopefuls Scott Walker and Lindsey Graham.
- ↑ During this period, he pursued an MBA at Harvard Business School, completing it in 1989.
- ↑ with Access divesting its stake and Mr. Blavatnik realizing approximately US$7 billion from the transaction.