LONDON, UK: All Things Considered Group plc (AQSE: ATC), the independent music company housing artist representation and music industry services, has acquired 55 per cent of the issued share capital of Raw Power Management Limited, a UK music management business, for a total consideration of £1.41 million in cash.
Raw Power is a music management company principally in the rock and alternative genres with long-standing client relationships. The acquisition brings further strength and scale to the All Things Considered Group’s existing client base artists, adding c.20 new artists to Group’s management business which now represents over 80 clients
Raw Power’s client base includes Bring me the Horizon (over a billion streams on Spotify), Bullet for my Valentine, The Mars Volta, The Damned, You Me At Six, Don Broco, Heartworms, Kid Kapichi and Refused. Raw Power team will co-locate with ATC Management in ATC’s London and Los Angeles offices.
Founded in 2006, Raw Power is a bespoke music management company working with a roster of internationally successful artists in the rock and alternative music genres, with offices in London and LA. The company was founded by Craig Jennings (CEO), Rod Smallwood and Andy Taylor, who collectively bring a wealth of experience in music representation and management.
Raw Power is wholly-owned by Craig Jennings, Matthew Ash, Don Jenkins, Andy Taylor and Rod Smallwood, all of whom will retain an interest in Raw Power following completion of the Acquisition.
Furthermore, Craig Jennings, Matthew Ash and Don Jenkins have each agreed three-year service contracts with ATC following completion of the Acquisition.
For the year ended 28 February 2023, Raw Power’s revenue was £2,271,000 and profit before tax was £326,000. The consideration will be paid in full upon completion and will be financed through the Group’s existing cash resources.
ATC has committed a loan facility to Raw Power, UK music management business, of up to £1,330,273, to enable Raw Power to satisfy certain outstanding liabilities. The Loans will bear interest of 5 per cent per annum and will be repaid from the future profits of Raw Power before any dividend is declared.
Adam Driscoll, CEO of All Things Considered Group Group plc, commented: “We are delighted to welcome Raw Power to the Group, bringing new manager talent to the team, strong industry relationships and a growing roster of leading artists. Our artist representation division continues to provide a source of strength as we build a business that can engage with musical talent across multiple service lines, and this acquisition enhances our opportunity. We look forward to supporting the ambitions of Raw Power and its clients.”
Craig Jennings, CEO of Raw Power, commented: “Both ATC and Raw Power value integrity, belief in the acts we look after, passion for the music and doing everything for the benefit of our artists. By joining forces with ATC we gain direct relationships to a broad range of leading music services businesses, giving our clients access to a full-service platform from which to drive and have ownership over their careers. This feels like a massive opportunity to take our artists to a whole new level. I feel that together we will be a powerhouse organisation. We are excited by the opportunity this presents.”
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