UK
Ireland
Joint Administrators at Evelyn Partners appointed to Proper Music Group; Complete sale of assets to Artone
Mark Supperstone and Ben Woodthorpe were appointed as joint administrators to Proper Music Group Limited (PMG), the holding company of a number of businesses in the music and film industry, including Proper Music Distribution (PMD), the UK’s leading physical distributor of independent music.
Immediately following their appointment, the joint administrators sold certain assets to Artone and PMD Managing Director Drew Hill, including the shares of all companies trading under PMG – PMD, Proper Records, Proper Music Publishing and propermusic.com.
The subsidiaries now join Artone’s portfolio of companies catering to the physical music market. This will allow clients of both PMD and Artone to unlock sweeping pan-European deals for distribution, production, packaging, retail and D2C sales. The sale has been agreed alongside the signing of a new multi-year lease for PMD’s current site in Dartford. Drew Hill will remain Managing Director at PMD, continuing his 18 years of service.
Mark Supperstone, Partner at Evelyn Partners and joint administrator of PMG, commented: “We are pleased to announce this sale which effectively secures the future of physical music distribution for independent labels in the UK. There was a high level of interest in acquiring the trading group and, having worked closely with Drew and his team for some time, we are pleased to complete the deal with Artone, who are able to offer many synergies that will enable the businesses to flourish in the years to come. We wish them all the best.
Jan Willem Kaasschieter, CEO at Artone: "Artone has been actively looking for opportunities to expand its distribution footprint, and PMD represents a perfect fit. PMD has played a vital role in supporting independent labels and artists in the UK. By bringing PMD into the Artone family, we ensure its continued success and provide stability for its partners. Our expertise, financial strength, and extensive network will support the long-term growth of the business and maintain a strong, diverse physical music market. We look forward to working closely with Drew and the Proper team to build on its legacy."
Drew Hill, Managing Director at Proper Music Distribution, commented: “In its 35 years, Proper Music Group has always strived to go above and beyond for its partners. This next step is an opportunity to secure the future of the business and continue to deliver a bespoke service to independent artists and labels. Having worked closely with Artone and Bertus Distribution over the years, together we’ll continue to champion a healthy and competitive physical distribution sector which ensures diversity of choice.”
ENDS
This article was originally published on ReSolve Advisory Limited. On 28 October 2024, ReSolve Advisory Limited joined S&W Partners LLP (formerly Evelyn Partners LLP). While considerable care was taken to ensure the information contained within this article was accurate and up to date at the time of publication, no warranty is given as to the accuracy or completeness of the information. No liability is accepted for any errors or omissions in such information or any action taken on the basis of this information.