PSA Parent Company Will be Acquired for $700 Million

If you’re a casual or a hardcore collector, there’s a chance that you might’ve seen Nat Turner’s collection. He got one of the craziest collections you’ll ever see. How crazy? Well according to psacard.com’s article, out of 462 PSA 10 1959 Topps, 76 are in the hands of Nat Turner. Imagine owning almost 1/5 of the WHOLE population.

Well looks like Nat Turner added another big purchase to his collection. This will be his biggest yet.

Collectors Universe, the parent company of PSA, announced yesterday that they have an agreement to sell the company for approximately $700 million to D1 Capital Partners L.P., and Cohen Private Ventures, a group of investors that includes Nat Turner and the family office of the New York Mets owner Steven Cohen.

According to the reports, the group will acquire all the outstanding shares common stocks for $75.25 per share, almost 30% more than the weighted stock price over the last two months.

This move will mean that PSA will now be a private entity.

Joe Orlando

Despite the acquisition, Joe Orlando will still be the CEO and President of Collectors Universe. This is despite the fiasco last July where Alta fox, 5.4% owner of the company, tried to overthrow the whole board of directors. According to Alta fox, the company wasn’t capitalizing enough on their market position. The company added two more seats on their board of directors to appease the group.

In the past few months, we’ve seen the hobby at its all-time high and it shows no signs of stopping yet. Nat Turner will be a welcoming addition to the group and hopefully, this will mean better service from the company.