All ThingsConsidered - Acquisition of 50% Interest
Announcement provided byAll Things Considered Group Plc · ATC
6 February 2024
All Things Considered Group plc
("ATC", the "Company" or the "Group")
Acquisition of 50% interest in music and live events company
Partnership adds complementary offering in music promotion and festival management to ATC's full-service music offering
All Things Considered Group plc (AQSE: ATC), the music group combining talent management, live booking, livestreaming and direct-to-consumer services, announces it has acquired a 50% interest in Mckeown Asset Limited ("MAL"), a
MAL is the parent company with the following holdings:
· 98% interest in Mckeown Events Limited ("MEL"), a concert and festival organiser based in
· 50% interest in JTR Productions Ltd ("JTR") a festival management operation (trading principally in servicing 'On The Beach Festival',
· 40% interest in Something Recordings Ltd, a small indie record label; and
· 10% interest in Concorde 2 Ltd ("Concorde 2"), an iconic live music venue in
· Through MAL's holdings in MEL, Concorde 2 and JTR, ATC will gain access to new market opportunities within live venues and festival management, thereby:
o Further diversifying the Group's revenue streams.
o Increasing cross-selling potential by enabling the Group to offer expanded services to existing artist clients and be engaged in more of the artist value-chain.
· The Acquisition of MAL adds scale, along with new sources of music market intelligence, enhancing the Group's multi-service offering.
· MAL's management team will join the Group, adding a wealth of experience within the growing sector of live events.
· MAL will sit under the ATC Events division and will provide a platform for potential additional venue and festival consolidation opportunities.
· Initial consideration of
The team at MAL has experience organising events around the
Festivals being serviced within the group include:
· On The Beach,
· Black Deer Festival,
· Brighton Psych Fest,
Concorde 2 is a landmark live music venue in
Terms of the Acquisition
The initial consideration of
The Acquisition terms include a further deferred payment over a 12 month earn-out period payable in cash on the achievement of certain milestones up to a maximum amount of
The Acquisition will be financed through the Company's existing cash resources.
Commenting on the Acquisition and partnership with MAL, Adam Driscoll, Chief Executive of ATC, said: "Following on from our recent acquisition of merchandising services business, Sandbag, this investment in MAL marks another important step forward in our growth strategy as we build out our end-to-end artist commerce business. This partnership adds brand-new revenue streams to our Group in the areas of live promotions, festival management and music venue ownership, and we see huge potential to enhance our joint operations through added scale and leveraged market insight across multiple business verticals."
James Mckeown, CEO of Mckeown Asset Limited commented: "I am excited to be joining forces with ATC to create something truly special and distinct in the music industry. By leveraging ATC's established and integrated music group we will have access to market intelligence and expertise that will enrich our operations and accelerate our potential in the live and festival space in which we see significant growth opportunity in the current market."
Overview of Mckeown Asset Limited
MAL is wholly owned by founder and CEO James Mckeown, with the holdings based in
Mckeown Events trading as JOY Concerts, is an independent concert promoter and event company based in
JTR is a festival management operation and delivery partner for the 'On The Beach' festival in
Something Records is an independent indie record label releasing singles for emerging artists.
Concorde 2 is a landmark live music venue on the beachfront in
Subscription and Admission of new Ordinary Shares
As detailed above, the Seller has indicated that he intends to subscribe for Ordinary Shares in the share capital of ATC which will be subject to a 12-month lock-in period and an orderly marketing agreement of 6-months thereafter. A further announcement will be made in due course.
This Announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 as retained as part of
For more information, please contact:
Via Alma PR
Adam Driscoll, CEO
Rameses Villanueva, CFO
Panmure Gordon (
+44 (0)207 886 2500
AQSE Corporate Adviser and Broker
James Sinclair-Ford / Mark Rogers / Freddie Wooding
Hugh Rich / Rauf Munir
Alma Strategic Communications
+44 (0)20 3405 0205
Hilary Buchanan / Justine James / Robyn Fisher
ATC Group is an independent music company combining talent management, live booking and direct to consumer within the same group.
The Group is headquartered in
The Group has an established, long-standing client base which, together with innovative new offerings, gives the Directors confidence that the company is well positioned to capitalise on the opportunities emerging from a disrupted music industry.
The Group's key divisions, grouped under three segments, are:
· ATC Management (
· ATC Live - live event booking agency for artists
· Sandbag - a market leading merchandising and 'Direct to Consumer' business
· ATC Media- providing consultancy and development services
· Your Army
· Familiar Music - synchronisation agency placing music in films, TV, advertisements and other media
· Minority interest in Driift - a global livestreaming operator
· ATC Experience - developing live theatrical events and digital experiences with artists
For more information see: www.atcgroupplc.com