Eric Grubman Invests In On Location, Will Be Company Chair
Former top NFL exec ERIC GRUBMAN has invested in, and become Board Chair, of On Location Experiences, the sports hospitality company whose origins was as a spinoff from the league. Grubman, who at one point oversaw the NFL’s relationship with On Location while at the league, began informally advising On Location over the summer. He became Chair in the last month after he fully separated from the NFL. “He and I will spend a lot of time working with the board for the vision of the company and how we execute that and what kind of organic growth, what kind of strategic growth [to pursue], and what kind of ... investments to make,” said On Location CEO JOHN COLLINS. On Location launched in '15 as a spinoff of the NFL’s Super Bowl hospitality business. Two private equity firms -- Bruin Sports Capital, and Redbird Capital -- joined with the NFL to fund the new startup. It had around $35M in revenue in its first year shortly after Collins was hired. Since then, new investors including The Carlyle Group and John Anthony have joined, adding disparate businesses that range from golf to college to tennis to music. Revenues today are believed to approach $600M. A former Goldman Sachs partner, Grubman was with the NFL from '04 through this past summer. He said On Location will be one of a handful of projects he plans to work on. The board meets once a month, Collins said. The firm did not have a Chair before Grubman, who will have a vote in that role. “It is a reflection of how far and how fast this company has really grown,” Collins said of the decision to add a Chair.
Meanwhile, On Location has acquired Future Beat, provider of VIP concert experiences. The move will enhance On Location's ability to serve the live music industry and artists. Future Beat currently offers a wide range of VIP packages and production services.