Larry H. Miller Management Corporation

What Larry H. Miller Management Corporation does

The Larry H. Miller Company is a privately held, family-owned investment firm founded in 1979 by Larry H. and Gail Miller in Sandy, Utah. It operates a diversified portfolio of business platforms spanning four verticals: real estate (master-planned communities including Daybreak, Downtown Daybreak, and the $3.5B+ Power District in west Salt Lake City, plus homebuilder Destination Homes and construction management firm TallyCM); senior healthcare (post-acute transitional care, skilled nursing, home health, hospice, and senior living through Advanced Health Care, Advanced Home Health and Hospice, Aspen Ridge, Advanced Senior Care, and Kissito Healthcare); sports and entertainment (Major League Soccer's Real Salt Lake, NWSL's Utah Royals FC, Triple-A baseball's Salt Lake Bees, and Megaplex Theatres operating 18 locations with 195 screens across Utah and Southern Nevada); and investments including the Swig "Original Dirty Soda" beverage franchise (150+ locations across 16 states), Prestige Financial, TaylorMed MRI, Nano Yield, and RunBuggy.

The company generates revenue through multiple streams: franchise fees and royalties from Swig's multi-unit operators, post-acute healthcare services reimbursed by Medicare/Medicaid/private insurance, real estate home and commercial sales, ticket/concession/merchandise revenue across sports and entertainment venues, and consumer financial services through Prestige Financial. Go-to-market is a mix of direct-to-consumer (owned venues and communities), franchise/licensed (Swig), and direct enterprise sales (healthcare, real estate). Patient family capital and a 45-year operating history enable long-duration investments such as the multi-year Power District master plan and senior health platform consolidation.

Strategic posture is one of active portfolio reshaping: the firm exited automotive retail in 2021 (sale to Asbury Automotive Group in the second-largest automotive transaction in history) and major-league basketball in 2020 (Utah Jazz sold to Ryan Smith), while reinvesting proceeds into senior healthcare, beverage franchising, sports (RSL/Utah Royals re-acquisition in 2025), and large-scale Utah real estate development. The Miller family retains majority ownership through Gail Miller, with Steve Miller as Chairman of the Board and Greg Miller as Vice Chairman; Steve Starks serves as CEO. No external private equity or institutional investor is indicated in the source material.

Name

Larry H. Miller Management Corporation

Legal name

LHM, INC.

Website

https://lhm.com

Company type

Private

Founded year

1979

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

The Larry H. Miller Company is a privately held, family-owned investment firm founded in 1979, operating diversified business platforms in real estate development (Daybreak, Power District), senior healthcare (Advanced Health Care, Kissito), sports and entertainment (Real Salt Lake, Megaplex Theatres), and consumer brands (Swig dirty soda) across the United States.

Ownership category

akta.pro rank

Product category

Diversified Investment Holdings

NAICS

Management of Companies and Enterprises (551)

SIC

Real Estate Agents & Managers (For Others) (6531)

akta.pro primary industry

Family Office Investment Platforms & Direct Investing (PE/VC/Co-Invest) (FSAAADAH)

Keywords

• Real estate development
• Senior healthcare services
• Sports team management
• Master-planned communities
• Beverage franchise operations

Headquarters

HQ city

Sandy

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Infrastructure, Technology or R&D, Supply Chain

Revenue model

1. Franchise Fees and Royalty Revenue: Swig franchise operations generate revenue through franchise fees and ongoing royalty payments from multi-unit operators across 16 states
2. Senior Healthcare Services: Post-acute healthcare services through skilled nursing, transitional rehabilitation, home health, hospice, and senior living facilities under Advanced Health Care and Aspen Ridge brands
3. Sports and Entertainment: Revenue from sports team ownership (Real Salt Lake, Utah Royals FC, Salt Lake Bees), venue operations (Megaplex Theatres, Vivint Arena), and event hosting including MLB expansion efforts
4. Real Estate Development: Revenue from master-planned communities (Daybreak), commercial development (Power District), home building (Destination Homes), and property management
5. Consumer Financial Services: Prestige Financial provides consumer financial solutions to automobile dealerships across the United States
6. Automotive Dealerships (Former): Formerly operated automotive dealerships sold to Asbury Automotive Group in December 2021 in the second-largest transaction in automotive history

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels5 records

Core offering

The Larry H. Miller Company is a privately held family investment firm that builds, acquires, and operates businesses across real estate development, senior healthcare, sports and entertainment, and consumer financial services. The company's real estate platform develops master-planned communities, builds homes, and offers construction management services; its senior healthcare platform provides skilled nursing, hospice, home health, and assisted living services; its sports and entertainment platform owns and operates professional sports teams and movie theaters; and its financial services platform provides consumer auto financing to dealerships.

Product overview

The Larry H. Miller Company is a family investment firm with a diversified portfolio of business platforms spanning real estate, senior healthcare, sports and entertainment, and investments. Real Estate operations include master-planned communities (Daybreak, Downtown Daybreak), commercial development (The Power District), home building (Destination Homes), and construction management (TallyCM). Senior Health provides post-acute care through Advanced Health Care (skilled nursing), Advanced Home Health and Hospice, Aspen Ridge senior living, and Advanced Senior Care. Sports + Entertainment includes MLS team Real Salt Lake, NWSL's Utah Royals FC, Triple-A baseball Salt Lake Bees, and Megaplex Theatres (18 locations with 195 screens). Investments include beverage brand Swig (Original Dirty Soda), financial services (Prestige Financial), medical imaging (TaylorMed MRI), agricultural technology (Nano Yield), and automotive logistics (RunBuggy).

Differentiator

Problem solved

Functional benefit

Products and services

• Daybreak Award-winning 4,000-acre master-planned community in South Jordan, Utah featuring residential neighborhoods, commercial centers, parks, trails, and the planned downtown mixed-use area. Developed for homebuyers and commercial tenants seeking a live-work-play environment.
• Downtown Daybreak Mixed-use downtown district within the Daybreak master-planned community featuring office, retail, dining, and residential space. Designed for businesses and residents in the Salt Lake City metro area.
• The Power District Specialty commercial area within Daybreak featuring unique retail, dining, and entertainment venues. Targets consumers and commercial tenants seeking distinctive lifestyle experiences.
• Destination Homes Residential homebuilder operating in multiple U.S. states including Utah, Idaho, Arizona, Nevada, Colorado, and Texas. Builds single-family homes for individual homebuyers.
• TallyCM Construction management services firm providing pre-construction planning, construction execution, and project oversight for real estate development projects. Serves real estate developers and owners.
• Advanced Health Care Skilled nursing facility operator providing short-term rehabilitation and long-term care services. Serves patients recovering from illness, injury, or surgery across multiple locations in the western United States.
• Advanced Home Health and Hospice Provider of home health and hospice care services delivered to patients in their residences. Serves seniors and patients needing end-of-life care across multiple western U.S. states.
• Aspen Ridge Homes Assisted living community operator providing residential care, memory care, and supportive services for seniors. Serves seniors and their families seeking assisted living accommodations.
• Advanced Senior Care Long-term skilled nursing and rehabilitation provider offering specialized care programs. Serves elderly patients and post-acute care patients across multiple states.
• TaylorMed MRI Diagnostic MRI imaging service provider operating MRI scanners in multiple locations. Serves patients needing diagnostic imaging and healthcare providers seeking imaging services.
• Real Salt Lake Major League Soccer (MLS) professional soccer team competing in the Western Conference. Based in Sandy, Utah, and serves soccer fans and ticket buyers in the Rocky Mountain region.
• Utah Royals FC National Women's Soccer League (NWSL) professional women's soccer team. Based in Sandy, Utah, and serves soccer fans in the western United States.
• Salt Lake Bees Minor League Baseball (MiLB) team competing as a Triple-A affiliate. Based in South Jordan, Utah, and serves baseball fans in the Intermountain West.
• Megaplex Theatres Movie theater chain operating multiple locations across Utah, Nevada, and other states. Provides movie exhibition, food and beverage concessions, and private event rentals to general consumers.
• Swig Drive-thru beverage and treat franchise offering dirty sodas, energy drinks, shakes, and customizable beverages. Operates company-owned locations and licenses franchise rights to multi-unit operators nationwide.
• Prestige Financial Consumer auto finance company providing loans, extended service contracts, and ancillary products to automotive dealership customers across the United States.
• Nano Yield Cloud-based document and electronic signature technology platform serving enterprise customers. Held as a minority investment by the Larry H. Miller Company.
• RunBuggy Digital platform connecting vehicle shippers with carriers for automotive transportation services. Held as a minority investment by the Larry H. Miller Company.

Quantifiable outcome

• Second-largest transaction in automotive history
• +3 more outcomes

Named customers4 records

Segments5 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

13 partnerships are on record, tiered core and minor.

• Field OperationscoreStrategic or Co-development Partner · 26 February 2026Field Operations, an internationally acclaimed landscape architecture and urban design firm recognized for the High Line in New York City, Waterfront Seattle, San Francisco's Presidio Tunnel Tops and Domino Park, was selected as lead landscape architecture firm for Jordan River restoration at the Power District.
• Kissito HealthcarecoreStrategic or Co-development Partner · 1 January 2026Larry H. Miller Senior Health assumed operations of full portfolio of Kissito Healthcare facilities located across southeastern Virginia effective January 1, 2026. Six long-term care facilities transferred under Advanced Senior Care business line.
• RSL Football HoldingscoreStrategic or Co-development Partner · 18 April 2025Miller Family and Miller Sports + Entertainment acquired RSL Football holdings including Real Salt Lake, Utah Royals FC, Real Monarchs and RSL Academy.
• Advanced Health Care Corporation (AHC)coreStrategic or Co-development Partner · 4 January 2021Larry H. Miller Company acquired Advanced Health Care Corporation, one of the largest pure-play post-acute transitional care providers in the country. AHC, founded in Idaho in 2001, specializes in short-term nursing and rehabilitation, home health and hospice services.
• Jordan River CommissioncoreStrategic or Co-development PartnerJordan River Commission collaboration for one-mile loop riverfront restoration within half-mile stretch of the Jordan River at North Temple on west side of Salt Lake City.
• State of UtahcoreStrategic or Co-development PartnerState of Utah partnership for Power District development addressing state assets including Jordan River and Utah State Fairpark.
• Salt Lake CitycoreStrategic or Co-development PartnerSalt Lake City partnership for Power District development and potential Major League Baseball stadium site.
• Rocky Mountain PowercoreStrategic or Co-development PartnerRocky Mountain Power state-of-the-art 10-story, 300,000 sq. ft. corporate campus under construction at Power District. Groundbreaking held October 27, 2025.
• Utah State FairparkcoreStrategic or Co-development PartnerUtah State Fairpark included in Power District master plan for 100+ acre development in west Salt Lake City.
• Big League UtahcoreStrategic or Co-development PartnerCommunity coalition led by Miller family and Larry H. Miller Company to bring Major League Baseball expansion team to Utah. Coalition targeting shovel-ready site for new MLB ballpark at 100-acre Rocky Mountain Power District.
• Big League Utah Coalition PartnerscoreStrategic or Co-development PartnerBroad-based community coalition of Utah leaders working to position Salt Lake City as ideal market for MLB expansion under 'Future of America's Pastime' banner.
• Good Morning AmericaminorGTM or Marketing PartnerGood Morning America visited Swig as part of '50 States in 50 Weeks' tour, featuring the Original Dirty Soda brand nationally.
• Food NetworkminorGTM or Marketing PartnerFood Network covered Swig dirty soda concept as part of food trends coverage, educating viewers on how to make the trendy TikTok drink.

Scale indicators11 records

Recent moves11 records

Expansion highlights6 records

Direct peers

• Inspire Brands: Multi-brand restaurant franchise holding company (Roark Capital-backed) operating Arby's, Buffalo Wild Wings, Sonic, Dunkin', Jimmy John's, and Baskin-Robbins. Most direct comp for LHM's Swig franchise roll-up strategy and unit-economics model.
• The Ensign Group: Operator of skilled nursing, transitional care, home health, and assisted living facilities across the U.S. Closest publicly traded peer for Larry H. Miller Senior Health's Advanced Health Care, Aspen Ridge, Advanced Home Health & Hospice, and Kissito operations.
• Henry Crown and Company: Privately held, family-controlled investment firm of the Crown family with diversified holdings across real estate, hospitality, and operating businesses. Closely mirrors LHM's family-owned diversified multi-platform investment model.
• Anschutz Entertainment Group (AEG): Phil Anschutz-controlled global sports and entertainment company owning arenas, teams (LA Kings, LA Galaxy), and real estate developments. Comparable sports + venue + real estate platform, especially to LHM's RSL/Utah Royals/Megaplex/Daybreak combination.
• Sterling Equities: Wilpon-family investment firm historically tied to the NY Mets and New York real estate development. Similar family-office model combining professional sports ownership with real estate operating businesses.
• Roark Capital Group: Family-office style private investment firm focused on franchised and consumer brands (Inspire Brands owns Arby's, Buffalo Wild Wings, Sonic, Dunkin', Jimmy John's, Baskin-Robbins). Closely comparable to LHM's family capital + Swig franchise thesis.
• The Kraft Group: Family-owned holding company of the Kraft family that owns the New England Patriots, New England Revolution, and Gillette Stadium while operating paper/packaging and venture investments. Directly comparable mix of sports franchises plus diversified operating businesses under family control.

Emerging players

• Galen Medical Group / Ensign Group (skilled nursing operator set): Smaller regional post-acute and senior-living consolidators targeted for acquisition by LHM Senior Health as it executes its roll-up strategy; representative of the fragmented long-tail of operators that LHMSH could acquire.

Broad incumbents

• Brookdale Senior Living: Nation's largest senior living operator; LHM board director Cindy Baier is Brookdale's former president & CEO. Most relevant incumbent for benchmarking LHM Senior Health's assisted living and senior care strategy.
• Related Companies: Stephen Ross-controlled real estate development firm responsible for Hudson Yards and large mixed-use master plans. Comparable scale and master-planning ambition to LHM's Daybreak and Power District developments.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/lhm
• Facebookfacebook.com/143871442298921
• LinkedInlinkedin.com/company/larry-h-miller-group-of-companies
• Instagraminstagram.com/thelhmcompany

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles21 records

Subsidiaries16 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments2 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Larry H. Miller Management Corporation