Company:RLJ Companies

From HandWiki
The RLJ Companies
TypePrivately held
IndustryVarious
Founded2002
HeadquartersBethesda, Maryland
Key people
Robert L. Johnson
ProductsInvestment Holdings
Websitehttps://www.rljcompanies.com/

The RLJ Companies is an American asset management firm owned by entrepreneur Robert Louis Johnson.[1][2][3][4][5] After selling Black Entertainment Television in 2001, Johnson’s first company, he created RLJ Companies in Bethesda, Maryland.[6][7][8] 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.[3][9] 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.[10]

History

Robert L. Johnson founded The RLJ Companies in 2002 in Bethesda, Maryland.[6][7] Johnson serves as chairman of the company.[3] Previous to founding The RLJ Companies, Johnson owned BET, which he sold to Viacom in 2001.[11] He remained on at BET as its CEO through 2006.[3]

In 2001, Johnson and Tom Baltimore started RLJ Lodging Trust with six hotels.[12] 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.[13][14] 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.[15][16] In 2008, RLJ Companies formed a partnership with Global Building Solutions to build a 78-room luxury resort and spa in Monrovia, Liberia.[6] 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.[17]

David Rubenstein and Johnson partnered with Carlyle Group in 2006 to form RLJ Equity Partners, a middle-market equity firm.[12][18] RLJ Equity Partners invested in CVC, the largest tour operator in Latin America, in January 2010.[19] In September 2010, it partnered with Enhanced Recovery Corp to gain more presence in the Southeast.[20] It has also invested in Fleischmann’s Vinegar, LAI International, TMone, Naylor and R. Thompson Trucking Inc.[20][21][22][23]

Johnson collaborated with Mack McLarty and Steve Landers to create RLJ-McLarty-Landers Automotive Holdings, LLC in 2007.[24] It is the parent company for Little Rock, Arkansas based RML Automotive.[25] Johnson holds 60% of RLJ-McLarty-Landers Automotive Holdings, LLC, making it the largest minority-owned automotive dealership in the country.[12]

In response to the 2010 Haiti earthquake, Global Building Solutions collaborated with RLJ Companies to form Caribbean Opportunity Holdings in April 2010.[26]

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.[27][28] H.Van Sinclair serves as CEO.[27]

RLJ Entertainment Inc. formed when the RLJ Companies acquired Acorn Media Group, Inc. and Image Entertainment Inc. in 2012.[12][13] It trades under the NASDAQ ticker RLJE.

References

  1. ↑ Susie Gharib; Tyler Mathisen; Hampton Pearson; Mary Thompson (20 January 2014). "News; Domestic". Nightly Business Report. 
  2. ↑ Ashley Halsey III (6 August 2013). "News of sale rocks readers, but many express optimism". The Washington Post. 
  3. ↑ 3.0 3.1 3.2 3.3 "Robert L. Johnson Leaders Interview". Leaders Online. http://www.leadersmag.com/issues/2012.1_Jan/ROB/LEADERS-Robert-Johnson-The-RLJ-Companies.html. Retrieved 16 April 2014. 
  4. ↑ Evan Weese (16 April 2013). "Black Enterprise Entrepreneurs Conference coming May 15–18". Business First of Columbus Online. 
  5. ↑ Alex Biles (13 March 2013). "The Top 20 African-American CEOs in Business Today". Benzinga.com. 
  6. ↑ 6.0 6.1 6.2 Stephanie Elam. "BET founder to build spa resort in war-torn Liberia". CNN World. http://www.cnn.com/2010/WORLD/africa/07/16/bob.johnson.interview/index.html?iref=allsearch. Retrieved 16 April 2014. 
  7. ↑ 7.0 7.1 Adam Bryant (November 12, 2011). "No Ranting and Raving Is Permitted". https://www.nytimes.com/2011/11/13/business/robert-l-johnson-anger-has-no-place-in-business.html?pagewanted=all. Retrieved 16 April 2014. 
  8. ↑ Michael A. Fletcher (18 December 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. 
  9. ↑ Sergie Willoughby. "BET Founder Robert L. Johnson Inducted into Giants of Broadcasting Honors". The Network Journal. http://www.tnj.com/news/business/bet-founder-robert-l-johnson-inducted-giants-broadcasting-honors. Retrieved 16 April 2014. 
  10. ↑ "Association Management Company Naylor Acquired by RLJ Equity Partners". TSNN Trade Show News. http://www.tsnn.com/news-blogs/association-management-company-naylor-acquired-rlj-equity-partners. Retrieved 16 April 2014. 
  11. ↑ Louise Story (August 2, 2007). "CNBC Admirers Talk About Their Climb Up The Ladder". https://www.nytimes.com/2007/08/02/business/media/02adco.html?gwh=EBB7008C956BD9CAF72493253BB1DBA5&gwt=pay&_r=0. Retrieved 16 April 2014. 
  12. ↑ 12.0 12.1 12.2 12.3 Dinah Eng. "Bob Johnson moves way beyond BET". CNNMoney. http://money.cnn.com/2012/11/07/smallbusiness/bob-johnson-bet.fortune/. Retrieved 16 April 2014. 
  13. ↑ 13.0 13.1 Dave McNary (3 October 2012). "RLJ completes distribution acquisition; Company's purchase of Image Ent., Acorn Media creates new digital distrib". Daily Variety. 
  14. ↑ Arlena Sawyers (7 May 2012). "Johnson: Power in partnerships". 86. Automotive News. 
  15. ↑ John Kell (February 2, 2011). "RLJ Lodging Trust Plans IPO". https://online.wsj.com/news/articles/SB10001424052748704775604576120452846156830. Retrieved 16 April 2014. 
  16. ↑ Abha Bhattarai. "RLJ Lodging Trust plans to expand following latest public offering". The Washington Post. https://www.washingtonpost.com/business/capitalbusiness/rlj-lodging-trust-plans-to-expand-following-latest-public-offering/2013/03/29/7c31ab92-9586-11e2-bc8a-934ce979aa74_story.html. Retrieved 16 April 2014. 
  17. ↑ "RLJ Lodging Trust gears up for transactions". Hotel News. http://www.hotelnewsnow.com/Article/12628/RLJ-Lodging-Trust-gears-up-for-transactions. Retrieved 16 April 2014. 
  18. ↑ Mary Kathleen Flynn (1 March 2012). "The RLJ Rule; BET founder Robert L. Johnson urges companies to seek minority candidates for executive openings". 47. Mergers & Acquisitions. 
  19. ↑ Dana Hedgpeth (8 January 2010). "Carlyle acquires Brazilian tour operator; $250 million CVC deal advances D.C. firm's overseas growth plans". The Washington Post. 
  20. ↑ 20.0 20.1 Jonathan Marino (20 September 2010). "RLJ Teams With Enhanced Recovery". 23. Mergers & Acquisitions Report. 
  21. ↑ "Investing in his passion". Press Citizen. http://www.press-citizen.com/article/20140125/NEWS01/301250014/Investing-his-passion. Retrieved 16 April 2014. 
  22. ↑ "Emerald Deal Tops 2013 M&A Activity". ExpoWeb. http://www.expoweb.com/article/emerald-deal-tops-2013-ma-activity#.Uuvlmj5gZ9E. Retrieved 16 April 2014. 
  23. ↑ "RLJ Equity Partners Acquires R. Thompson Trucking Inc.". Transport Topics. http://www.ttnews.com/articles/basetemplate.aspx?storyid=30932&t=RLJ-Equity-Partners-Acquires-R-Thompson-Trucking-Inc. Retrieved 16 April 2014. 
  24. ↑ "Difficult times yield big rewards for dealer group". Automotive News. http://www.autonews.com/article/20120507/RETAIL07/305079993#axzz2pkW0Ld4L. Retrieved 16 April 2014. 
  25. ↑ "Why Toyota of Lewisville got a new owner". Dallas Business Journal. http://www.bizjournals.com/dallas/news/2013/09/12/why-toyota-of-lewisville-got-a-new-owner.html?page=all. Retrieved 16 April 2014. 
  26. ↑ "RLJ Companies to Bring Jobs, Build Homes in Haiti". Black Enterprise. http://www.blackenterprise.com/news/rlj-companies-to-bring-jobs-build-homes-in-haiti/. Retrieved 16 April 2014. 
  27. ↑ 27.0 27.1 "RLJ Acquisition, Inc.". NASDAQ. http://www.nasdaq.com/markets/ipos/company/rlj-acquisition-inc-842591-65818. Retrieved 16 April 2014. 
  28. ↑ "Johnson wheels and deals to fulfill ambitions for RLJ". The Washington Post. https://www.washingtonpost.com/wp-dyn/content/article/2010/12/03/AR2010120306083.html. Retrieved 16 April 2014. 




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