Pegasus Capital Advisors has acquired a majority stake in Spirit Music Group, a New York–based music publisher with a catalog of more than 15,000 songs. No financial terms were disclosed.
Pegasus Capital Advisors announced today that an affiliate has acquired a majority interest in New York-based Spirit Music Group. Spirit controls a catalog of thousands of classic and contemporary songs, providing a full range of administration and promotion services for its works as well as other catalogs.
Spirit is the fastest growing independent music publisher of the last decade, representing hundreds of hits and thousands of titles spanning seven decades and virtually every music genre. The copyrights the company represents range from the standards of Frank Sinatra and Billie Holliday to the pioneering rock of Elvis Presley, Chubby Checker and Dion; from the seminal blues of Elmore James and Lightnin’ Hopkins to the envelope-pushing jazz of Charles Mingus; from the timeless soul of Chaka Khan to the influential work of Lou Reed and The Grateful Dead and massive pop hits by Madonna, Mariah Carey, Janet Jackson and Jay-Z. Spirit Music’s collection of works reflects more than 700 charted hit songs.
“Spirit Music Group is a great success story, having reached a leadership position in the music world in a relatively short period of time. Its portfolio of songs and songwriters is stellar and its advocacy on behalf of its clients is the best in the industry,” said Craig Cogut, founder and co-managing partner of Pegasus. “We’re delighted to be partnering with this talented organization and see it as an ideal platform for additional investment in the music industry.”
“All of us at Spirit are delighted that Pegasus has made this investment. Pegasus’ resources — both financial and human — will help us at Spirit to expand our client services and continue to build a second-to-none music catalog,” said Mark Fried, CEO of Spirit Music Group.
About Pegasus Capital Advisors
Pegasus Capital Advisors, L.P. is a private equity fund manager that provides creative capital and strategic solutions to middle market companies across a wide variety of industries. It is currently pursuing initiatives in several key emerging sectors, including alternative energy, all-natural human and pet foods, alternative building materials, LED lighting, homeland security and sustainable business solutions in a number of industries. Established in 1995, Pegasus has cumulatively managed approximately $2 billion in assets through several private equity funds and has made more than 70 investments. The firm employs over 50 uniquely talented investment and advisory professionals located in Cos Cob, CT and New York, NY, as well as several satellite offices. www.pcalp.com
About Spirit Music Group
Spirit Music Group, founded in 1995, is the fastest growing independent music publisher of the last decade, owning and/or managing more than 15,000 songs spanning 7 decades and every musical genre. The company’s repertoire reflects some of the most beloved songs and songwriters including hits and gems by Frank Sinatra, Billie Holliday, Elmore James, Elvis Presley, Charles Mingus, Dion, The Beach Boys, Alice Cooper, Pure Prairie League, Chaka Khan, The Go-Go’s, Madonna, Mariah Carey, Ricky Martin, Dido and Mary J. Blige, and the catalogs of such iconic writer/artists as Lou Reed, The Grateful Dead, T. Rex, The Marshall Tucker Band, Billy Squier, A Taste Of Honey, Andrea Bocelli, Angela Winbush and C&C Music Factory. The company has earned a strong reputation as an aggressive royalty administrator and a peerless promoter of its songs into film, television and advertising productions as well as a wide range of new media. Spirit Music Group is based in New York with affiliate offices all over the world. For further information about Spirit Music Group, go to www.spiritmusicgroup.com.