Los Angeles-based management company Deckstar has been acquired by UK-based James Grant Group in a multi-million dollar merger. Deckstar, which was founded in 2006 by Lawrence Vavra and Matt Colon alongside the late DJ AM, represents over 50 artists like Blink-182, Steve Aoki, Culture Club, Smashing Pumpkins, and Liz Phair.
James Grant Group’s acquisition deal was supported by at least $12.1 million in funding from Investec Growth & Acquisition Finance, which also includes funding for further acquisitions.
“We are very happy to support James Grant Group’s acquisition of Deckstar,” said Shaun Mullin of Investec Growth & Acquisition Finance in a statement. “This deal is a great example of how UK businesses can become truly global. Having worked with Metric and James Grant management for three years, we are very excited by the growth prospects of the business, and look forward to working with the team as they continue to grow.”
James Grant Group boasts a roster of over 1,500 clients including One Direction’s Louis Tomlinson, James Arthur and The Script. Having acquired Hall Or Nothing Management in 2012, they also count Manic Street Preachers as clients. James Grant Group also works with clients in television, literature, and sports on marketing, management, legal, and accounting services.
“Following the management buyout three years ago, we had the ambition to continue to grow both organically and through acquisitions with a real focus on expanding our presence and footprint in the US market,” said Neil Rodford, Chief Executive of James Grant Group in a statement. “Investec has played an important role in helping that become a reality. These facilities will not only support this acquisition and further enhance our US offering, but it will help consolidate our position as a market leading transatlantic talent business across a range of sectors.”
With the acquisition, JGG’s LA-based staff will move to Deckstar’s Wilshire Boulevard offices and Deckstar founder’s Vavra and Colon will join the UK company’s shareholder and operational boards.
In a statement Colon said “The last ten years of Deckstar’s development have seen huge changes in both our artists’ careers and the musical landscape. In our search for the right partner, it became increasingly apparent that today’s artists require a worldwide footprint with resources outside the traditional music industry to face the demands of a global entertainment audience.”
“As artists become more dependent on management, we want to be able to set a new standard on a global level,” co-founder Varva said in a statement. “Merging with a partner with the same philosophy in music, television, social and sports allows both companies to scale more quickly whilst maintaining our core values and fundamental beliefs about the principles of artist management.”