Entertainment rights administrator Compact Media Group has been acquired by private equity firm Lyceum Capital for £17 million.
Entertainment rights administrator Compact Media Group has been acquired by private equity firm Lyceum Capital for £17 million.
Lyceum backed the management buy-out of Compact Media, which was led by CEO John O’Sullivan, and acquired the majority stake that was previously held by the founding shareholders.
Funding for the transaction was provided by Lloyds TSB Corporate Markets’ acquisition finance team.
Dan Adler, a partner at Lyceum Capital who led the deal, comments that the investment will allow Compact Media to expand its international reach in what he describes as a fragmented area of the media industry.
Under the terms of the deal Richard Green will become executive chairman of Compact Media. Green was previously CEO of the media group 2entertain, which is owned by BBC Worldwide.
