All Things Considered acquires stake in Mckeown Asset to strengthen live entertainment portfolio
All Things Considered Group plc (AQSE: ATC), a prominent player in the music industry known for its talent management, live booking, livestreaming, and direct-to-consumer services, has announced a significant strategic move with the acquisition of a 50% interest in Mckeown Asset Limited (MAL), a UK-based holding company with various businesses across the live entertainment and music sector. The initial deal, valued at £475,000, not only complements ATC’s existing operations but also marks an essential step in its growth strategy, broadening its footprint in the live music and entertainment sector.
MAL, under its portfolio, includes a 98% stake in Mckeown Events Limited (MEL), a key concert and festival organizer in Brighton; a 50% interest in JTR Productions Ltd, which plays a crucial role in managing the ‘On The Beach Festival,’ Brighton’s flagship music event; a 40% share in Something Recordings Ltd, an indie record label; and a 10% stake in Concorde 2 Ltd, an iconic live music venue in Brighton. This acquisition paves the way for ATC to access new market opportunities within live venues and festival management, further diversifying its revenue streams and enhancing its service offerings to artist clients.
Highlights of the Acquisition
- Through MAL’s holdings, ATC secures a strategic position in the live venues and festival management arena, promising new revenue streams and expanded services for artist clients.
- The acquisition adds considerable scale and insights into the music market, bolstering ATC’s multi-service offerings.
- MAL’s management team, known for their expertise in the live events sector, will join ATC, bringing invaluable experience and knowledge.
- The acquisition is financed through ATC’s existing cash resources, with an initial cash consideration and a potential deferred payment based on achieving specific milestones.
MAL’s portfolio, including the renowned Concorde 2 venue and successful festivals like ‘On The Beach’ and ‘Black Deer Festival,’ positions ATC to leverage significant growth opportunities in the live and festival sectors. The partnership aims to enrich operations, accelerate potential in live events, and align with the current market’s growth trajectory.
Adam Driscoll, Chief Executive of ATC, emphasized the importance of this partnership, stating, “This investment in MAL marks another important step forward in our growth strategy as we build out our end-to-end artist commerce business.” James Mckeown, CEO of MAL, shared his enthusiasm, highlighting the combined potential to create a distinctive force in the music industry.
With over 18 years of experience in organizing diverse events across the UK, MAL’s contributions to the live entertainment sector are significant, with its entities collectively facilitating around 250,000 tickets annually. The acquisition by ATC is set to enhance this legacy by integrating MAL’s expertise with ATC’s established music group operations.