Barings, one of the world's leading financial services firms, today announced that it has served as administrative agent and sole lead arranger of a senior secured credit facility to support MidOcean Partners in its acquisition of Music Reports, Inc. The financing provides capital to support Music Reports in its next phase of growth under MidOcean's ownership. Financial terms were not disclosed.
Music Reports delivers a full platform of licensing, reporting and royalty accounting solutions to music and entertainment customers via its continuously updated, proprietary database of music copyright and cue sheet information. Music Reports plays a critical role in bridging the gap between music owners and music users, bringing robust data normalization and enrichment capabilities to the opaque music publishing and copyright industry to ensure all parties are properly licensed and compensated.
"Music Reports is an established leader in the rights and royalties market for both audio visual and digital streaming customers alike, and we look forward to supporting the company's continued growth as music consumption proliferates through more and more use cases," said Barrett Gilmer, Managing Director at MidOcean Partners. "As we navigate the current environment, we are pleased to work with a trusted partner in Barings to ensure this deal's success."
"We believe Music Report's core value proposition and data-driven platform position the company for future growth and provide much needed clarity in the ever-changing and complex music copyright industry," said L. Max McEwen, Managing Director in Barings' Global Private Finance group. "We are excited to support MidOcean's investment in Music Reports, furthering the strong relationship between our two firms across a number of platforms and industries."
Barings Global Private Finance ("GPF") is a 70+ investment team located in seven offices on four continents. GPF has a 40-year track record of successfully financing middle-market buyouts, acquisitions, and recapitalizations. With product capabilities that range from traditional senior debt to bespoke junior capital securities, and hold sizes of $250 million+, Barings is focused on providing capital solutions that help our private equity clients complete their deal on time and as expected. Our long-term commitment to the asset class, local origination in each region, consistent team, and broad range of investment capabilities, are designed to provide investors an absolute spread premium to broadly syndicated loans as well as an attractive risk-adjusted return potential.
About Barings
Barings is a $346+ billion* global financial services firm dedicated to meeting the evolving investment and capital needs of our clients and customers. Through active asset management and direct origination, we provide innovative solutions and access to differentiated opportunities across public and private capital markets. A subsidiary of MassMutual, Barings maintains a strong global presence with business and investment professionals located across North America, Europe and Asia Pacific. Learn more at www.barings.com.
