Business

Carlyle purchases Getty Images in a $3.3b deal

This acquisition is latest in series this summer

WASHINGTON — The Carlyle Group and Getty Images management have paid $3.3 billion to buy Getty Images from San Francisco-based investment firm Hellman & Friedman.

Washington-based Carlyle will have a majority stake in Getty Images, while Getty Images cofounder Mark Getty and the Getty family will maintain an ownership interest, according to a statement. Getty cofounder Jonathan Klein will also hold a significant investment in the firm.

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Founded in 1973, Seattle-based Getty is a photo agency with a voluminous archive of still images and film stock footage that it supplies to businesses and consumers.

The Getty acquisition is the latest in a flurry of deals by Carlyle. Last week, the firm bought a controlling interest in TCW Group from Societe Generale. Carlyle and TCW management and employees are thought to have paid about $700 million in cash, and some debt, according to people familiar with the transaction.

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Last month, the private equity firm bought Hamilton Sundstrand’s industrial pumps business from parent United Technologies for $3.46 billion. Two days before that, Carlyle partnered with Genesee & Wyoming in a $1.4 billion acquisition of RailAmerica.

On July 2, Carlyle bought Sunoco’s more than 100-year-old refinery in Philadelphia, which preserved 1,000 jobs.

Carlyle shares closed down 3 cents at $24.90 Wednesday. The stock is up more than 10 percent since its May debut on the Nasdaq

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