RLJ Companies

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]

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

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. "Robert L. Johnson Leaders Interview". Leaders Online. 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. Stephanie Elam. "BET founder to build spa resort in war-torn Liberia". CNN World. Retrieved 16 April 2014.
  7. Adam Bryant (November 12, 2011). "No Ranting and Raving Is Permitted". 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. Retrieved 16 April 2014.
  10. "Association Management Company Naylor Acquired by RLJ Equity Partners". TSNN Trade Show News. Retrieved 16 April 2014.
  11. Louise Story (August 2, 2007). "CNBC Admirers Talk About Their Climb Up The Ladder". Retrieved 16 April 2014.
  12. Dinah Eng. "Bob Johnson moves way beyond BET". CNNMoney. Retrieved 16 April 2014.
  13. 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 (6515). Automotive News.
  15. John Kell (February 2, 2011). "RLJ Lodging Trust Plans IPO". Retrieved 16 April 2014.
  16. Abha Bhattarai. "RLJ Lodging Trust plans to expand following latest public offering". The Washington Post. Retrieved 16 April 2014.
  17. "RLJ Lodging Trust gears up for transactions". Hotel News. 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 (3). 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. Jonathan Marino (20 September 2010). "RLJ Teams With Enhanced Recovery". 23 (38). Mergers & Acquisitions Report.
  21. "Investing in his passion". Press Citizen. Retrieved 16 April 2014.
  22. "Emerald Deal Tops 2013 M&A Activity". ExpoWeb. Retrieved 16 April 2014.
  23. "RLJ Equity Partners Acquires R. Thompson Trucking Inc". Transport Topics. Retrieved 16 April 2014.
  24. "Difficult times yield big rewards for dealer group". Automotive News. Retrieved 16 April 2014.
  25. "Why Toyota of Lewisville got a new owner". Dallas Business Journal. Retrieved 16 April 2014.
  26. "RLJ Companies to Bring Jobs, Build Homes in Haiti". Black Enterprise. Retrieved 16 April 2014.
  27. "RLJ Acquisition, Inc". NASDAQ. Retrieved 16 April 2014.
  28. "Johnson wheels and deals to fulfill ambitions for RLJ". The Washington Post. Retrieved 16 April 2014.
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