Authentic Brands files confidentially for an IPO
Jamie Salter may be ready for his investor close-up.
The Authentic Brands licensing whiz has filed papers privately with the Securities and Exchange Commission to take his six-year-old company public, The Post has learned.
The New York company filed the papers earlier this year, according to someone who saw the paperwork.
In an interview last week, Salter would not confirm such a filing.
“I’m interested in a liquidity event for the employees,” Salter said at his Times Square offices, walking from showroom to showroom, passing plenty of Marilyn Monroe, Elvis and Muhammad Ali memorabilia, before firmly noting that he and his team “haven’t made a decision yet” on an initial public offering.
Authentic Brands, he said, is in just the “fourth inning” of its growth trajectory. Three of his sons work at the company, which may argue for Salter keeping the company private for now.
The start-up generates about $125 million in annual profits before taxes, depreciation and amortization, sources said.
The media content side of the business could spur a buyer to pay more than 10 times Ebitda, giving it roughly a $1.5 billion valuation, sources said. It has $540 million in debt.
Buyout firm Leonard Green has already collected $200 million from the company.
“We have a machine here,” Salter said. “Adding brands is not that hard.”