Kobalt has confirmed that private equity company Francisco Partners (FP) is acquiring a majority stake in its business. MBW understands that, should the deal clear regulatory/closing conditions, FP’s controlling stake in Kobalt will equate to around 90% of the music company. Meanwhile, two other new co-investors are to each acquire minority stakes in Kobalt at the same time: Matt Pincus’s MUSIC, plus Dundee Partners.
Source: Kobalt Music Group sold to US-based private equity firm Francisco Partners