LDC completes sale of MAMA and Company to LiveNation

LDC has exited its investment in live music business MAMA & Company in a sale to NYSE-listed Live Nation Entertainment (NYSE: LYV).

LDC backed the buyout of HMV’s Live Music division, MAMA & Company, in December 2012. The investment provided a platform for its management team to pursue a buy-and-build strategy, increase the influence of the company and its brands, and enhance its growth prospects through sponsorship and promotions.

In 2013, LDC supported MAMA & Company in its acquisitions of East London’s Hoxton Square Bar and Kitchen and the East Village Arts Club in Liverpool. The addition of the highly regarded live music venue complemented the business’ nationwide network, which includes The Forum, The Garage, Camden Barfly, Jazz Cafe and the Borderline in London, as well as the Manchester Ritz and the Birmingham Institute.

The company has also grown its festival offering, which already includes Global Gathering, Godskitchen and UK-based events Lovebox, The Great Escape and Wilderness.

During LDC’s tenure, MAMA & Company has increased turnover to £28m for the financial year ending April 2015. Attendance at the company’s venues and festivals has increased materially in the past three years.

The transaction sees California-based Live Nation acquire the entire issued share capital of MAMA & Company and provides a full exit for LDC. Live Nation, which is the world’s leading live entertainment company and owns the Ticketmaster.com and Live Nation Concerts brands, will bring MAMA & Company into its growing integrated business.

The deal follows on from the divestments of reputation management consultancy Blue Rubicon to Teneo Holdings, leading price comparison website uSwitch to Zoopla Property Group and TV production firm Twofour Group to ITV plc.

Notes to Editors

  1. LDC is the private equity arm of Lloyds Banking Group and is authorised and regulated by the Financial Conduct Authority.  
  2. LDC backs ambitious management teams from UK-based medium sized companies seeking up to £100m of investment to fund management buyouts or development capital transactions.
  3. LDC invests in a broad range of sectors and has particular experience in Healthcare, Industrials, Retail & Consumer, TMT, Travel & Leisure, Support Services, Construction & Property and Financial Services.
  4. LDC has a UK regional network with locations in Aberdeen, Birmingham, Bristol, Cardiff, Edinburgh, Glasgow, Leeds, Newcastle, London, Manchester, Nottingham and Reading.