The Corporate Finance team at southwest chartered accountants Milsted Langdon recently acted for the sellers on the sale of Discovery Records Limited to Trapeze Music Limited. Terms of the deal have not been disclosed.
Discovery Records Limited was established in 1978 to represent, import, distribute and promote record labels from France, but it has expanded over the years to include products from most Western European countries, including Belgium, Denmark, Germany, Italy, Netherlands, Spain and Sweden, as well as labels in Australia, New Zealand, Canada, the USA and the UK.
The company was founded by former principal shareholder Mike Cox and in nearly 40 years, it has built-up a reputation for its understanding and expertise in specialist music, including world music, classical and jazz.
Trapeze Music Limited is owned by John Cooper, who also has a long and distinguished career in the music industry, including Transatlantic, EMI, Motown and Arista. Trapeze Music specialises in the release of catalogue recordings and interesting new artists. The acquisition of Discovery Records – its principal UK distributor – is expected to facilitate a growth strategy for both businesses. Furthermore, the transaction enables Mike Cox to retire from Discovery Records.
Mike Cox commented on the service he received from Milsted Langdon, which has offices in Bath, Bristol, London, Taunton and Yeovil: “I’d like to thank you very much for all your work – very professional yet personal – I’m certainly pleased we used you!”
Milsted Langdon’s Corporate Finance Partner Susannah Adams concluded: “This was an interesting transaction to be involved with and I’m glad that a suitable outcome was achieved and that both Mike and John are happy.”