Nettwerk Music Group has entered into a definitive agreement to complete a management buyout from its existing investors, supported by Create Music Group.
“This transaction marks a significant milestone for Nettwerk, accelerating its mission to support artists globally while continuing to operate as an independent and distinctly Canadian music company,” said a statement.
As part of the proposed agreement, Create Capital will invest more than $300 million into Nettwerk and will provide access to substantial follow-on capital and support services. The transaction is expected to close this month.
“This investment will allow the Nettwerk management team to increase its ownership stake while enabling Nettwerk to retain its identity and independence in the market,” added the statement.
Nettwerk will continue to serve its current roster of talented artists, as well as signing new talent.
Nettwerk was co-founded over 40 years ago by Terry McBride and his longtime business partner Mark Jowett. McBride’s early career in artist management included Coldplay and Avril Lavigne.
Nettwerk’s roster of artists includes Paris Paloma, Passenger, Leisure, SYML, Mon Rovîa and many more.
Partnering with Create allows us to continue to build on our foundation, grow our capabilities and provide even more value to the artists we represent
Terry McBride
The partnership with Create Music Group provides Nettwerk with access to global infrastructure, distribution networks and label services. In addition, Create Capital will offer Nettwerk access to financing to support the company’s continued growth and investment in its frontline operations.
The Nettwerk leadership team will continue to manage day-to-day operations, signings and artist development efforts, with support from Create’s platform.
“We’re excited about this next chapter in Nettwerk’s journey,” said Terry McBride, co-founder and CEO of Nettwerk. “Partnering with Create allows us to continue to build on our foundation, grow our capabilities and provide even more value to the artists we represent – while staying true to our roots as an artist-focused, independent Canadian label.”
“Terry and his team at Nettwerk have built one of the most enduring and influential independent music companies in the modern era,” said Create Music Group CEO and co-founder Jonathan Strauss. “We are excited to put all of the resources at our disposal behind Terry and his management team to fuel Nettwerk’s continued global growth.”
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