Indie-focused funding firm Exceleration Music has introduced the acquisition of Hillsborough, North Carolina-based distributor Redeye Worldwide.
Three-year-old Exceleration Music emailed Digital Music Information at the moment with phrase of the deal for 27-year-old Redeye. The play, it’s price noting on the outset, follows Exceleration’s buy of a number of catalogs in addition to companies equivalent to Chicago’s Bloodshot Data.
Whereas the concerned events opted in opposition to disclosing the exact financials related to the latest of those transactions, nonetheless, they did emphasize that it encompasses Redeye labels Yep Roc (the skilled house of acts together with Chuck Prophet and Aoife O’Donovan) and Sundazed, apart from the entity’s Riff Metropolis Sounds publishing firm.
On the distribution and label-services sides, the Border Music mum or dad Redeye is claimed to rely as purchasers Beggars Group, Domino, New West Data, Stones Throw Data, and Progressive Leisure, to call just some.
In response to Exceleration, the acquisition “marks a pivotal second” and can allow it “to handle all features of music’s journey to the streaming and bodily markets, delivering absolutely impartial worldwide distribution and label companies.”
Constructing upon the purpose, execs disclosed that Redeye co-founders Tor Hansen and Glenn Dicker “have grow to be shareholders in Exceleration” and can proceed to guide their over 120-person operation with extra help from the latter enterprise. (Exceleration’s personal co-founders are former Harmony CEO Glen Barros, Epitaph and Merlin vet Dave Hansen, former Merlin CEO Charles Caldas, former Ingrooves GM Amy Dietz, and former Harmony Data president John Burk.)
“Redeye’s operational construction stays unchanged,” the newly aligned firms drove house, mentioning the continuing presence of “key” executives together with head of worldwide Michael Petkov, world advertising director Laura Pittard, and affiliate VP of world operations Michael Howard.
Addressing the settlement, Exceleration associate and co-founder Glen Barros reiterated that the addition of Redeye and its numerous divisions “represents an necessary enlargement of Exceleration’s general technique to strengthen the impartial group.”
“Redeye already offers an awesome service to a formidable set of first-rate indie labels searching for a distributor that may service each bodily and digital channels on a world foundation,” proceeded Barros. “Along with Glenn, Tor and the Redeye group, we plan to broaden Redeye’s already spectacular community and to collectively assist our present, and future label companions to actually thrive.”
And in feedback of his personal, Redeye co-founder Glenn Dicker communicated: “Working with the Exceleration group looks like increasing the household. Sharing robust beliefs and a strategic imaginative and prescient, it looks like the following pure step on our journey in direction of offering our world class distribution service to an expanded impartial group.”