YMU, the UK-based talent agency representing celebrities like Simon Cowell, Graham Norton, and Nicole Scherzinger, has been acquired by Permira Credit for GBP 60 million (approx. USD $76 million).
The news, reported by Deadline on Monday (March 18), comes after YMU reportedly explored financial restructuring in June 2023 as it owes 70 million in debt to current lenders. Sky News reported at the time, citing sources in Londons financial district, that YMU lenders Permira Credit and Lloyds Banking Group hired AlixPartners to undertake an independent business review of the agency.
As part of the restructuring, Permira has reportedly assumed full control of Yokozuna Newco Limited, YMUs newly formed parent company. The move marks the exit of …
Read the full article at: https://www.musicbusinessworldwide.com/talent-management-firm-ymu-sold-for-76m-after-financial-restructuring-report/