Stephen Swid
Encyclopedia
Stephen Swid an American businessman and investor. He currently serves as the Chairman and Chief Executive Officer of SESAC, Inc.
, one of the three performing rights organizations in the USA.
Swis is also noted for founding SBK Entertainment and was also previously the co-owner of General Felt Industries, Sheller-Globe Corporation
, Knoll International
and the 21 Club
, along with partner Marshall Cogan
.
, Swid was Founder and Senior Partner of Swid Investors, an investment limited partnership, general partner of City Associates, a private management company, senior investment officer of the Oppenheimer Funds and securities analyst of the Dreyfus Fund.
Swid's first deal was the takeover of General Felt Industries (GFI) in 1974 which he completed with fellow investment banker Marshall Cogan
. Swid and Cogan would then merge GFI with Knoll International
and use Knoll as a holding company
to acquire a series of businesses. For twelve years until July 1986, Swid was Co-Chairman and Co-Chief Executive Officer of Knoll.
Among Swid and Cogan's most notable acquisitions were takeover of the Sheller-Globe Corporation
and later the purchase of the 21 Club
. and Sheller-Globe Corporation
. Cogan was unsuccessful in his high profile bids to acquire the Boston Red Sox
, Sotheby's
and L.F. Rothschild
in the buyout boom of the 1980s
.
In 1986, Swid purchased CBS Songs, the music publishing unit of CBS
, which would later become the beginning of SBK Entertainment World, a leading music publisher and worldwide entertainment services company. From November, 1986, until May, 1989, Swid was Chairman and Chief Executive Officer of SBK Entertainment World.
From February, 1990 until January, 1995, Stephen was Chairman and Chief Executive Officer of Westview Press
, an academic publishing company based in Boulder, Colorado
and from 1989 until 1997 the Chairman and Chief Executive Office of SPIN
, a music and youth culture magazine.
and past Director of the East West Institute.
Stephen Swid is an active supporter of the arts and education and currently serves as a Director of The Municipal Art Society
of New York. He is a Trustee and Chairman of the Executive & Finance Committee of The Solomon R. Guggenheim Museum
and is a member of the Visiting Committee on 20th Century Art for the Metropolitan Museum of Art
.
He has also served as a Trustee of the Horace Mann School
and as Executive Vice President of the Board of the Lenox School, both located in New York City.
SESAC
SESAC, originally the Society of European Stage Authors & Composers, is the smallest of the three performance rights organizations in the United States. SESAC was founded in 1930, making it the second-oldest performing rights organization in the U.S. SESAC is also the fastest-growing PRO in the...
, one of the three performing rights organizations in the USA.
Swis is also noted for founding SBK Entertainment and was also previously the co-owner of General Felt Industries, Sheller-Globe Corporation
Sheller-Globe Corporation
Sheller-Globe Corporation was a U.S. auto parts manufacturer and industrial conglomerate based in Toledo, Ohio. Formed in 1966 on a heritage of much older companies, Sheller-Globe grew through the acquisition of many other businesses before it was acquired by United Technologies Corporation in...
, Knoll International
Knoll (company)
Knoll is a design firm that produces office systems, seating, files and storage, tables and desks, textiles , and accessories for office and for the home. The company also manufactures furniture for the home by Ludwig Mies van der Rohe, Harry Bertoia, Florence Knoll , Frank Gehry, Maya Lin and...
and the 21 Club
21 Club
The 21 Club, often simply 21, is a restaurant and former prohibition-era speakeasy, located at 21 West 52nd Street in New York City.-Environment:...
, along with partner Marshall Cogan
Marshall Cogan
Marshall S. Cogan is an investor and entrepreneur and former financier and trader. Cogan was the founder of United Automotive Group, which he built into one of the largest retailers of cars and trucks in the U.S. As a private equity investor, Cogan acquired a number of businesses in the 1970s and...
.
Biography
A graduate of Ohio State UniversityOhio State University
The Ohio State University, commonly referred to as Ohio State, is a public research university located in Columbus, Ohio. It was originally founded in 1870 as a land-grant university and is currently the third largest university campus in the United States...
, Swid was Founder and Senior Partner of Swid Investors, an investment limited partnership, general partner of City Associates, a private management company, senior investment officer of the Oppenheimer Funds and securities analyst of the Dreyfus Fund.
Swid's first deal was the takeover of General Felt Industries (GFI) in 1974 which he completed with fellow investment banker Marshall Cogan
Marshall Cogan
Marshall S. Cogan is an investor and entrepreneur and former financier and trader. Cogan was the founder of United Automotive Group, which he built into one of the largest retailers of cars and trucks in the U.S. As a private equity investor, Cogan acquired a number of businesses in the 1970s and...
. Swid and Cogan would then merge GFI with Knoll International
Knoll (company)
Knoll is a design firm that produces office systems, seating, files and storage, tables and desks, textiles , and accessories for office and for the home. The company also manufactures furniture for the home by Ludwig Mies van der Rohe, Harry Bertoia, Florence Knoll , Frank Gehry, Maya Lin and...
and use Knoll as a holding company
Holding company
A holding company is a company or firm that owns other companies' outstanding stock. It usually refers to a company which does not produce goods or services itself; rather, its purpose is to own shares of other companies. Holding companies allow the reduction of risk for the owners and can allow...
to acquire a series of businesses. For twelve years until July 1986, Swid was Co-Chairman and Co-Chief Executive Officer of Knoll.
Among Swid and Cogan's most notable acquisitions were takeover of the Sheller-Globe Corporation
Sheller-Globe Corporation
Sheller-Globe Corporation was a U.S. auto parts manufacturer and industrial conglomerate based in Toledo, Ohio. Formed in 1966 on a heritage of much older companies, Sheller-Globe grew through the acquisition of many other businesses before it was acquired by United Technologies Corporation in...
and later the purchase of the 21 Club
21 Club
The 21 Club, often simply 21, is a restaurant and former prohibition-era speakeasy, located at 21 West 52nd Street in New York City.-Environment:...
. and Sheller-Globe Corporation
Sheller-Globe Corporation
Sheller-Globe Corporation was a U.S. auto parts manufacturer and industrial conglomerate based in Toledo, Ohio. Formed in 1966 on a heritage of much older companies, Sheller-Globe grew through the acquisition of many other businesses before it was acquired by United Technologies Corporation in...
. Cogan was unsuccessful in his high profile bids to acquire the Boston Red Sox
Boston Red Sox
The Boston Red Sox are a professional baseball team based in Boston, Massachusetts, and a member of Major League Baseball’s American League Eastern Division. Founded in as one of the American League's eight charter franchises, the Red Sox's home ballpark has been Fenway Park since . The "Red Sox"...
, Sotheby's
Sotheby's
Sotheby's is the world's fourth oldest auction house in continuous operation.-History:The oldest auction house in operation is the Stockholms Auktionsverk founded in 1674, the second oldest is Göteborgs Auktionsverk founded in 1681 and third oldest being founded in 1731, all Swedish...
and L.F. Rothschild
L.F. Rothschild
L.F. Rothschild was a merchant and investment banking firm based in the United States and founded in 1899. The firm collapsed following the 1987 stock market crash.-History:...
in the buyout boom of the 1980s
Private equity in the 1980s
Private equity in the 1980s relates to one of the major periods in the history of private equity and venture capital. Within the broader private equity industry, two distinct sub-industries, leveraged buyouts and venture capital experienced growth along parallel although interrelated tracks.The...
.
In 1986, Swid purchased CBS Songs, the music publishing unit of CBS
CBS
CBS Broadcasting Inc. is a major US commercial broadcasting television network, which started as a radio network. The name is derived from the initials of the network's former name, Columbia Broadcasting System. The network is sometimes referred to as the "Eye Network" in reference to the shape of...
, which would later become the beginning of SBK Entertainment World, a leading music publisher and worldwide entertainment services company. From November, 1986, until May, 1989, Swid was Chairman and Chief Executive Officer of SBK Entertainment World.
From February, 1990 until January, 1995, Stephen was Chairman and Chief Executive Officer of Westview Press
Westview Press
Westview Press is an American publishing house. It publishes textbooks and scholarly works for an academic audience.Westview was founded in 1975 in Boulder, Colorado by Fred Praeger. The press was sold in 1991 to SCS Communications. HarperCollins acquired the company in 1995. Since 1998, it has...
, an academic publishing company based in Boulder, Colorado
Boulder, Colorado
Boulder is the county seat and most populous city of Boulder County and the 11th most populous city in the U.S. state of Colorado. Boulder is located at the base of the foothills of the Rocky Mountains at an elevation of...
and from 1989 until 1997 the Chairman and Chief Executive Office of SPIN
Spin (magazine)
Spin is a music magazine founded in 1985 by publisher Bob Guccione Jr.-History:In its early years, the magazine was noted for its broad music coverage with an emphasis on college-oriented rock music and on the ongoing emergence of hip-hop. The magazine was eclectic and bold, if sometimes haphazard...
, a music and youth culture magazine.
Other affiliations
Due to his interest in foreign relations and international diplomacy, Swid is a member of the Council on Foreign RelationsCouncil on Foreign Relations
The Council on Foreign Relations is an American nonprofit nonpartisan membership organization, publisher, and think tank specializing in U.S. foreign policy and international affairs...
and past Director of the East West Institute.
Stephen Swid is an active supporter of the arts and education and currently serves as a Director of The Municipal Art Society
Municipal Art Society
The Municipal Art Society of New York, founded in 1893, is a non-profit membership organization that fights for intelligent urban planning, design and preservation through education, dialogue and advocacy in New York City....
of New York. He is a Trustee and Chairman of the Executive & Finance Committee of The Solomon R. Guggenheim Museum
Solomon R. Guggenheim Museum
The Solomon R. Guggenheim Museum is a well-known museum located on the Upper East Side of Manhattan in New York City, United States. It is the permanent home to a renowned collection of Impressionist, Post-Impressionist, early Modern, and contemporary art and also features special exhibitions...
and is a member of the Visiting Committee on 20th Century Art for the Metropolitan Museum of Art
Metropolitan Museum of Art
The Metropolitan Museum of Art is a renowned art museum in New York City. Its permanent collection contains more than two million works, divided into nineteen curatorial departments. The main building, located on the eastern edge of Central Park along Manhattan's Museum Mile, is one of the...
.
He has also served as a Trustee of the Horace Mann School
Horace Mann School
Horace Mann School is an independent college preparatory school in New York City, New York, United States founded in 1887 known for its rigorous course of studies. Horace Mann is a member of the Ivy Preparatory School League, educating students from all across the New York tri-state area from...
and as Executive Vice President of the Board of the Lenox School, both located in New York City.