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After 40 years, the independent company’s current roster includes Passenger, Syml, Banners, the Album Leaf and others.
The Nettwerk Music Group has recapitalized, bringing in a new investor in the form of Flexpoint Asset Opportunity Fund II and additional funding from existing investors Beedie Capital and Vistara Growth. Flexpoint Asset Opportunity Fund II is a buyout fund managed by Flexpoint Ford, a private equity firm with approximately $7.8 billion of assets under management. Terms of the funding weren’t disclosed.
“The capital from Flexpoint will enable Nettwerk to invest in artists and make music catalogue acquisitions that will benefit from the fast-growing independent sector of the music industry,” Nettwerk CEO and co-founder Terry McBride said in a statement. “We’re excited to partner with Flexpoint as we continue to execute on our vision of connecting artists with their fans globally.”
Nettwerk describes itself as a full-service artist development and music intellectual property brand builder with a history spanning nearly 40 years. Its current roster includes Passenger, Syml, Banners, the Album Leaf, Matt Maltese, Wild Rivers and Wrabel among many others.
“Nettwerk has been at the forefront of the evolution in the independent music sector building a compelling catalogue of music by offering white-glove services and growth opportunities to independent artists traditionally reserved for superstars,” Flexpoint managing director Mike Morris said in a statement. “We believe Terry and the team are well positioned to prosper in the rapidly evolving music industry and are excited to help the team execute their vision.”
Beedie Capital managing director David Bell added, “The team at Nettwerk are differentiated leaders in a complex industry, and we are excited to support them through continued execution of their unique, artist-centric strategy.”
Artisan served as buyside financial advisor and Latham & Watkins and Bennett Jones served as legal counsel to Flexpoint. Cooley and Morgan Daniels Slager served as legal counsel to Nettwerk.
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