Global law firm White & Case LLP has advised leading alternative investments firm EQT on its acquisition of a 40 percent stake in music company Epidemic Sound.
Venture capital firm Creandum, which also holds a stake in Spotify, increased its ownership in Epidemic Sound to 20 percent as part of the deal, while the company's founders and employees will own 40 percent. Epidemic Sound was founded in 2009 as a production music library, and now helps individuals and companies soundtrack their stories with music.
"We are delighted to have advised EQT on such an exciting investment in this rapidly growing niche of the music industry, and look forward to following the development of Epidemic Sound on its continued international growth journey," said Stockholm-based White & Case partner Jan Jensen, head of private equity in the Nordics.
Johan Dettel, Partner at EQT Partners and Investment Advisor to EQT Mid Market Europe, said: "The investment in Epidemic Sound is a perfect fit with EQT's geographic reach and vast expertise within tech and digitalization. We are very pleased to have the team at White & Case by our side to facilitate strategic investments such as this."
The White & Case team in Stockholm which advised on the transaction was led by partner Jan Jensen with support from associates Patrik Erblad, Hanna Wingren, Pontus Mattsson, Gustav Lexner and Erik Larsson.
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