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RLJ Companies

From Alfawiki
The RLJ Companies
Company typePrivate
IndustryAsset management, private equity, hotel real estate development, financial services, insurance, automobile dealerships, sports and entertainment, video lottery terminal gaming
FoundedJanuary 1, 2002; 24 years ago (2002-01-01) in Bethesda, Maryland, U.S.
FounderRobert L. Johnson
Headquarters
Bethesda
,
United States
Area served
Worldwide
Key people
Robert L. Johnson (Chairman)
ProductsInvestments in hotels, private equity, financial services, insurance, automobile dealerships, sports and entertainment, VLT gaming
OwnerRobert L. Johnson
Websiterljcompanies.com/about/

The RLJ Companies is a U.S.-based asset management firm owned by businessman Robert L. Johnson. After divesting from Black Entertainment Television in 2001, Johnson established RLJ Companies in Bethesda, Maryland. The enterprise boasts a broad range of investments including hotel real estate development, private equity, financial services, insurance, automobile dealerships, sports and entertainment, along with video lottery terminal (VLT) gaming.[1]

With its corporate headquarters situated in Bethesda, RLJ operates additional offices in Charlotte, North Carolina, Little Rock, Arkansas, Los Angeles, California, San Juan, Puerto Rico, and Monrovia, Liberia. The firm oversees assets estimated at nearly $5 billion, underscoring its extensive presence and influence across diverse sectors worldwide.[2]

History

In 2002, Robert L. Johnson launched The RLJ Companies in Bethesda, Maryland, assuming the role of chairman.[1] Prior to this venture, Johnson was the owner of BET, which he sold to Viacom in 2001 while continuing as CEO until 2006.[1]

Johnson and Tom Baltimore initiated RLJ Lodging Trust in 2001 with an initial portfolio of six hotels. Initially named RLJ Development, the company went public on the New York Stock Exchange as RLJ in May 2011.[3] Currently, it manages 97 hotels across 21 states under prominent brands such as Courtyard by Marriott, Hilton Garden Inn, Hyatt Place, and Embassy Suites Hotels.[4][5] In 2008, RLJ collaborated with Global Building Solutions to construct the RLJ Kendeja Resort & Villas located in Monrovia, Liberia, which opened its doors in 2009.[6] Thomas J. Baltimore Jr. held the CEO position until April 2016; he was succeeded by Ross H. Bierkan in August of the same year.[7]

In 2006, Johnson joined forces with David Rubenstein and the Carlyle Group to establish RLJ Equity Partners, a private equity firm focusing on the middle market.[4] In 2010, RLJ Equity Partners made a significant investment in CVC Brasil, Latin America's largest tour operator.[5] The firm further grew through strategic partnerships and acquisitions including Enhanced Recovery Corp as well as companies like Fleischmann's Vinegar, LAI International, TMone, Naylor, and R. Thompson Trucking Inc.[8] In 2014, it acquired Naylor Association Solutions based in Gainesville, Florida.

In 2007, Johnson collaborated with Mack McLarty and Steve Landers to form RLJ-McLarty-Landers Automotive Holdings, LLC—the parent company of RML Automotive headquartered in Little Rock, Arkansas.[9][10] Johnson retains a 60% ownership stake, positioning it as the largest minority-owned automotive dealership group within the United States.[4]

Following the devastating earthquake in Haiti in 2010, RLJ partnered again with Global Building Solutions to create Caribbean Opportunity Holdings aimed at facilitating reconstruction projects.[11]

RLJ Acquisition was launched as a special-purpose acquisition company (SPAC) in December 2010 to pursue mergers and acquisitions. It is listed on the NASDAQ under the symbol RLJAU with H. Van Sinclair serving as CEO.[12]

In 2012, The RLJ Companies broadened their media footprint by acquiring Acorn Media Group and Image Entertainment Inc., thereby establishing RLJ Entertainment Inc., which trades on NASDAQ under the ticker symbol RLJE.[4][3]

References

  1. ↑ 1.0 1.1 1.2 Cite error: Invalid <ref> tag; no text was provided for refs named leadersmag
  2. ↑ https://rljcompanies.com/about/
  3. ↑ 3.0 3.1 Cite error: Invalid <ref> tag; no text was provided for refs named dailyvariety
  4. ↑ 4.0 4.1 4.2 4.3 Cite error: Invalid <ref> tag; no text was provided for refs named moneycnn
  5. ↑ 5.0 5.1 Cite error: Invalid <ref> tag; no text was provided for refs named washingtonpost
  6. ↑ Cite error: Invalid <ref> tag; no text was provided for refs named CNN
  7. ↑ Cite error: Invalid <ref> tag; no text was provided for refs named hotelnewsnow
  8. ↑ Cite error: Invalid <ref> tag; no text was provided for refs named mergersteam
  9. ↑ Cite error: Invalid <ref> tag; no text was provided for refs named autonews
  10. ↑ Cite error: Invalid <ref> tag; no text was provided for refs named dallasbiz
  11. ↑ Cite error: Invalid <ref> tag; no text was provided for refs named blackenterprise
  12. ↑ Cite error: Invalid <ref> tag; no text was provided for refs named nasdaq
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