Add-on Acquisition • Media

Modern Media Acquires Akazoo

On January 24, 2019, Modern Media acquired media company Akazoo from Penta Capital

Acquisition Context
  • This is Modern Media’s 1st transaction in the Media sector.
  • This is Modern Media’s 1st transaction in the United Kingdom.

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M&A Deal Summary

Date January 24, 2019
Target Akazoo
Sector Media
Buyer(s) Modern Media
Sellers(s) Penta Capital
Deal Type Add-on Acquisition
Advisor(s) Loeb & Loeb (Legal)

Target Company

Akazoo

London, United Kingdom
Akazoo Ltd. is a versatile music streaming service that allows mobile network operators, ISPs and device manufacturers to enable customers to meaningfully enjoy their favorite music. Akazoo was founded in 2008 and is based in London, United Kingdom.
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Buyer Overview 1

Buyer

Modern Media

Culver City, California, United States

Category Company
Sector Media
DESCRIPTION

Modern Media LLC is a prvider o meda services. Modern Media is a subsidiary of Macquarie Group.


Deal Context for Buyer #
Overall 1 of 1
Sector: Media 1 of 1
Type: Add-on Acquisition 1 of 1
Country: United Kingdom 1 of 1
Year: 2019 1 of 1

Seller Profile 1

SELLER

Penta Capital

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Penta Capital is a mid-market private equity firm that concentrates on later-stage investment opportunities throughout the UK and Ireland. Penta looks to invest between £5 and £200 million. Sectors of interest include leisure, consumer products/services, and business services. The Firm generally looks to support growth capital needs, as well as management buyouts/buy-ins. Penta Capital was formed in 1999 and maintains offices in London and Glasgow.


Deal Context for Seller #
Overall 12 of 14
Sector: Media 1 of 1
Type: Add-on Acquisition 2 of 2
Country: United Kingdom 11 of 13
Year: 2019 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-01 Circle Health Group

London, United Kingdom

Circle Health Grou is a healthcare company, that offer a range of specialities, including orthopaedic, ENT, general surgery, gynaecological, gastrointestinal, neuro spinal surgery and more, supported by diagnostic services. Circle Health was founded in 2004 and is based in London, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-01 Circle Health Group

London, United Kingdom

Circle Health Grou is a healthcare company, that offer a range of specialities, including orthopaedic, ENT, general surgery, gynaecological, gastrointestinal, neuro spinal surgery and more, supported by diagnostic services. Circle Health was founded in 2004 and is based in London, United Kingdom.

Sell -