Milwaukee-based sheet music publishing company
Hal Leonard announced today that it has “combined” with Cyprus-based music content and creation company
Muse Group.
Terms of the deal were not disclosed. San Francisco-based investment firm
Francisco Partners announced that it is providing growth investment funding to support the deal.
"We’re joining Muse Group and there will be joint ownership between Hal Leonard, Muse Group, and Francisco Partners," a spokesperson for Hal Leonard said.
While Hal Leonard, founded in 1947, will join Muse Group, both companies will retain their respective headquarters in the U.S. and Cyprus, respectively, and distinct operational expertise.
The Hal Leonard name will continue, and all Hal Leonard employees will continue in their current roles.
“The newly expanded Muse Group remains committed to continuing Hal Leonard’s valued partnerships with educators, retailers, distributors, suppliers, content creators and license holders that serve the global music community,” a news release announcing the deal states.
Muse Group produces some of world’s most popular online libraries, tools, and community spaces for audio creators — including MuseScore, Ultimate Guitar, and Audacity
Along with its massive catalog of premier educational and classical music, Hal Leonard’s licensed arrangements include many of the world’s most iconic artists and scores.
The joint business now includes a content library of over 5.5 million scores, tabs, books, video courses, backing tracks, and presets.
“This merger will create more music makers worldwide and will lead to even more advances in music education technology, while also expanding ways creators and rights holders can make their musical works more widely available," said
Larry Morton, Hal Leonard chairman. "Hal Leonard and Muse have been working closely together in commercial partnerships for over 15 years and have built trust and mutual respect over that time. Combining the strengths of both companies is a truly exciting prospect, full of potential ways to grow the music industry in new directions.”
“Our passion for improving the lives of all musicians has always been at the heart of Muse Group and we’re immensely excited to partner with the Hal Leonard team who share that passion,” said Eugeny Naidenov, CEO of Muse Group.
“We are excited to partner with Muse Group and Hal Leonard to help enable their combination and usher in the joint company’s next stage of growth. The combined business will offer its customers unparalleled content and technology focused on music learning across digital, print, and educational channels,” said Matt Spetzler, partner and co-head of Europe at Francisco Partners.
Hal Leonard was advised on the deal by Lincoln International and JEGI CLARITY as its financial advisors, and O'Melveny & Myers LLP as its legal advisor.
In 2016, the majority of Hal Leonard Corp. was acquired by California-based private equity firm Seidler Equity Partners.
