Lyceum sells Compact Media to Ole

Under the GP's tenure, the business has undertaken a recruitment drive and expanded its product range to include data management, music management and production financing. It has also undertaken an international expansion strategy and now has a presence in the US and Australian markets.

The Canadian trade buyer intends to gain a foothold in Europe and in the television market as a result of the acquisition.

The deal marks Lyceum's second exit of 2016, and its second divestment to an international trade buyer since the UK voted to leave the European Union. In August, the GP sold IT company Adapt to US trade buyer Datapipe.

Previous funding
Lyceum invested £17m for a majority stake in Compact in October 2010. Lloyds TSB Corporate Markets provided a debt package to support the transaction.

Company
Founded in 1996, London-headquartered Compact is a royalty collection society focusing on the audio-visual market. It has additional offices in Los Angeles and Sydney and its clients include Dreamworks, BBC Worldwide, National Geographic, ITV Studios and Fremantle.

Under the GP's tenure, Compact increased its client base from 360 customers to 1,400 media companies, according to a statement.

According to publicly available documents, the business generated turnover of £5.75m in the latest financial year with total recognised losses of £5.6m.

People
Lyceum Capital – Dan Adler (partner).
Compact Media Group – David Johnson (CEO).

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• Topics
• Exits
• UK / Ireland
• Media
• United Kingdom
• Horizon Capital (formerly Lyceum Capital)