Approved · Notification · Phase 1 · decided in 24 days, 11 June 2026
Primary Wave KB Holdings, LP, a US-based music acquisition and publishing company, is acquiring substantially all interest units of Kobalt Music Group Topco L.P., a digital royalty collection and music publishing administration company, from Francisco Partners Management, L.P. This unit sale involves entities active in the music publishing sector.
Primary Wave KB Holdings, LP (together with its group companies, Primary Wave ), intends to acquire substantially all of the interest units of Kobalt Music Group Topco L.P. (together with its subsidiaries, Kobalt ) from Francisco Partners Management, L.P. (together with its affiliated funds, Francisco Partners ) (the Acquisition ). Primary Wave is a US-based music acquisition, publishing and estate management company engaged in acquiring, managing and commercialising music rights and related intellectual property. Kobalt is a digital royalty collection and music publishing administration company, servicing artists and other constituents in the music industry. Kobalt’s main business activities relate to the provision of music publishing administration services, to third-party music rights holders.