Marking the first time in 70 years that it hasn’t been totally owned within the family, The Gersh Agency has sold a 45% stake to New York-based private equity firm Crestview Partners
. Siebert will also join the Gersh brothers and members of Crestview on a newly formed board of directors. Siebert’s appointment represents the first step of Gersh’s long-planned management transition, the agency said.Gersh was founded in 1949 by Phil Gersh, and at present has about 300 employees, 125 of them agents, in Beverly Hills and New York offices, and thousands of clients with a lean in on meat and potato actors who populate films and TV series.
“We are very proud of our agency and all we, and our clients, have accomplished together,” David Gersh said. “The opportunity to partner with Crestview will provide us greater flexibility to advance as an institution. We have a prestigious, diverse, and tightly held group of agents and clients. We will continue our unique brand of representation and will always hold ourselves to the highest standard of hands-on bespoke representation.
Siebert has been a stalwart rep and leader at the agency, and putting a woman on the board is significant development for the agency.
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