Image Entertainment, a company backed by JH Partners, has completed its merger with RLJ Acquisition and Acorn Media Group Inc. The new company will be known as RLJ Entertainment Inc. Terms of the deals were not released. JH Partners is based in San Francisco.
JH Partners LLC, an investor of growth capital in consumer-focused companies, has completed the merger of its portfolio company, Image Entertainment Inc. (OTCQB: DISK), with RLJ Acquisition, Inc. (formerly OTCQB: RLJA), a special purpose acquisition company, and Acorn Media Group Inc. to form RLJ Entertainment Inc. (Nasdaq: RLJE). JH Partners had been the majority owner of Image Entertainment, a leading independent licensee and distributor of entertainment programming in North America, since January 2010.
Pat Collins, a partner at JH Partners and former Director of Image Entertainment, said, “We are pleased with this transaction, which represents a great outcome for JH Partners, as well as our management and co-investor partners. We welcome the opportunity to participate as one of RLJ Entertainment, Inc.’s shareholders going forward.”
About JH Partners
Based in San Francisco, JH Partners specializes in investing capital in growth-oriented, middle-market consumer products and services companies. JH Partners distinguishes itself among private equity firms with its decades of relevant operating experience among its professional investment team and the deep understanding of consumer markets that comes with the firm’s narrow investment focus. Among the firm’s 24 current and past investments are such well-known brands as Bare Escentuals, J.McLaughlin, Frette, La Perla, Design Within Reach, Jurlique, Kate Somerville Skin Health Experts and Peet’s Coffee & Tea. JH Partners manages approximately $1 billion in private equity commitments.
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