Menzies Corporate Finance has assisted in the acquisition and unification of the specialist global music publisher, Edition Peters.

Peters is a 200 year old global music publishing business with its principal interests in US/Germany and UK, supporting and promoting the classical music world with a catalogue of over 6,000 titles as a publisher of many world famous compositions from many historic acclaimed composers such as Bach, Beethoven, Richard Strauss, through to living composers including Jonathan Dove whose latest composition receives its world premiere at this year’s Last Night of the Proms.

Peters music is distributed worldwide through a network of retailers across the 6 continents and in excess of 200 countries – it also has an extensive library of works hired out to ensembles and orchestras worldwide.

The Menzies team were led by Jeremy Rayment and Ross Wiggins, with specialist not for profit advice being provided by Menzies Partner Malcolm Lucas.

Menzies were brought in by the UK shareholders, (trustees of a UK foundation trust), to help project manage the complex and diverse transaction which involved facilitating and working between 3 groups of shareholders and their respective advisors in the US, Germany and UK and assisting in managing the acquisition processes including the banking due diligence process regarding the acquisition of the German interest and restructuring of the group into a unified entity.      

Coutts bank provided the specialist acquisition finance and a number of specialist banking and copyright lawyers in respective jurisdictions provided advice on the banking and structuring aspects.    

Commenting on Menzies involvement, Tim Berg, Trustee of the UK shareholding group said:

“As trustees, our time is volunteered and is in addition to our busy professional lives. It was clear that we needed the support, assistance and importantly the independent perspective of Menzies, without which progression through to completion would have undoubtedly been far more challenging and put the transaction at risk – the technical complexities and number of parties involved required strong communication and facilitation skills across disciplines and cultures. ’’

Berg added: "Menzies brought us the mix of experience and approach and style that we needed and this extended beyond their practical and commercial experience to a much enjoyed empathetic and responsive approach."

Jeremy Rayment commented:

"It’s very rare to have the opportunity to work with a business such as Peters with its rich and enduring legacy, further, to partner with it at such an instrumental point of its life in the unification to meet the challenges of its future, is a priviledge."  

"This transaction was certainly more complex and diverse than many, but in common with much of our work, having a strong and focussed client always gives the edge and ability to deliver and Peters future is one that augers well.”  

The acquisition and restructuring will enable Peters to implement a unified global strategy for the growth and development of its publishing entities, and ensure it can meet the challenges of the 21st century.  

The principal UK legal advisers to the Peters Group were James Ware Baxter Schoenfeld and financial Due Diligence was undertaken by Grant Thornton. 

The terms of the transaction are undisclosed.

For further information please contact:

Jeremy Rayment
jrayment@menzies.co.uk
Director, Menzies Corporate Finance

Menzies Corporate Finance Ltd (MCF) is the specialist corporate finance arm of top 25 accounting firm Menzies and is regulated by the FSA.