Innovative Artists Entertainment, for the first time in the company’s more than 40-year history, has received a strategic investment from Los Angeles-based private equity firm Coral Tree Partners, Innovative Founder and CEO Scott Harris and Coral Tree Founder Will Wynperle announced on Wednesday.
The deal is designed to provide the agency with additional resources to further the company’s growth opportunities and expansion. In conjunction, the company has rebranded the agency’s existing Innovative Artists brands under a singular, unified entity as Innovative Artists Entertainment.
Coral Tree assumes a minority stake in the agency, which will continue to be led by Harris and his management team. The strategic relationship positions the agency to enhance the breadth of service and representation it can offer at a time when the talent business is evolving to include a broader and wider array of interests and possibilities.
“I have been proud to lead our agency through these decades as a competitive, independent talent agency.” Harris said in a statement, “We have always navigated the ever-evolving entertainment business, whether against the backdrop of a pandemic, multiple work stoppages, or the technological and creative progress of our industry. Our partnership with Will and the team at Coral Tree represents the next step in enabling us to continue to grow with maximum momentum and invigoration, while continuing to focus on our core mission of providing exceptional client service.”
Wynperle added: “We are grateful to be entering into a true strategic relationship with Innovative at the agency’s exciting growth stage. We have long admired Innovative’s unwavering commitment to client representation and are grateful to partner closely with Scott and the agency’s senior management team. Together, we look forward to driving growth while keeping the focus on client representation first and foremost with an eye on 360-degree client service. At this time of unprecedented demand for premium content, Innovative is uniquely poised for long-term success.”
Founded in 1982 by Scott Harris and Howard Goldberg before being rebranded as Innovative Artists in 1992, the bi-coastal agency boasts a rich and diverse roster of clients in the Talent, Literary, Production, Unscripted, Comedy, Appearance, Broadcast, Voiceover, Commercial and Endorsement areas. The agency has cultivated a reputation as a premier talent agency representing actors, writers, directors and creative artists across a wide spectrum of the entertainment business and has long prided itself on a highly personalized approach, providing exceptional and bespoke representation, which emphasizes career development and prioritizes client advocacy.
With a dedicated team of experienced agents, Innovative Artists has become a trusted partner to an expansive list of entertainment professionals navigating the evolving media landscape. The investment from Coral Tree will help accelerate the company’s expansion by enhancing the resources to support its agents and a growing roster of talent.
Coral Tree Partners is a Los Angeles-based private equity firm focused on investing in lower middle-market companies within the media, entertainment and communication sectors. The firm partners with management teams to drive growth and long-term value creation by leveraging its deep industry expertise and operational capabilities.
Innovative Artists Entertainment was advised by Houlihan Lokey and Sheppard Mullin. Coral Tree was advised by Kirkland & Ellis.
