Ingenious Corporate Finance has advised Stage Three Music Ltd (''Stage Three'') on the sale of the business to BMG Rights Management GmbH (''BMG''). Ingenious Corporate Finance advised the company and its shareholders on their strategic options and led the negotiations and structuring of the deal.
Stage Three is a leading independent, international music publisher that was founded in 2003 by ex-Virgin and Chrysalis CEO Steve Lewis, with backing from Apax Partners and Ingenious Ventures L.P. Stage Three holds the rights to a variety of contemporary compositions performed by Aerosmith, Duffy, The Eagles, Eminem, Eric Clapton, Inner City, James Morrison, Johnny Hates Jazz, Mike Oldfield, Rascal Flatts, Take That and ZZ Top. Its writer roster also includes superstar writer producers Steve Robson, Bernard Butler and Andrew Frampton as well as leading Nashville songwriters Brett James and Bobby Pinson. Frampton co-wrote the hit "The Club is Alive" performed by pop act JLS, which is currently No. 1 in the Official U.K. singles chart.
BMG is a joint venture between the international media company Bertelsmann and an affiliate of the leading global alternative asset manager, Kohlberg Kravis Roberts & Co. Stage Three is BMG's third investment of significant size in 2010 and follows the acquisition of Cherry Lane and the Adage IV catalog in the US.
Tom Manwaring, Director and Laura Maddison, Senior Associate advised on the transaction for Ingenious Corporate Finance.
This sale represents the fifth transaction which Ingenious Corporate Finance has successfully advised on and closed in 2010.