Close Brothers Corporate Finance and Weil, Gotshal & Manges advised HgCapital. ABN AMRO, Herbert Smith and Statham Gill Davies Solicitors advised APG.
Boosey & Hawkes was originally acquired by HgCapital in December 2003 for £75m. During that period, HgCapital outsourced a non-core activities such as printing and distribution and developed new revenue streams, such as music in advertising and film. It also made six bolt-on acquisitions.
The business controls the rights to more than 116,000 works of music and choreography from classical composers including Stravinsky, Rachmaninoff, Britten and Profofieff. In 2003, Boosey & Hawkes reported EBITDA of approximately £3.3m. By 2007, this had increased to £6.8m.