Anonymous SFX investor revealed as private Canadian equity firm
The company's shares have been boosted over 50 per cent
A few days ago, SFX received a rare break amongst the tumultuous stream of upsetting news in regards to the company's future. SFX's declining shares received a promising 57 per cent boost thanks to a then-anonymous investment of $20 million.
The identity of the unknown investor has been revealed as the Canadian private equity firm, Catalyst Capital Group. According to their website, the firm was established in 2002 and specializes in "control and/or influence investments in distressed and undervalued Canadian situations", but seems to have made an exception for SFX Entertainment, which is based out of New York.
Catalyst Capital Group has also worked with IMAX, Canadian media company Canwest and a variety of other companies in the commercial and manufacturing sector in Canada.
In November, Mixmag reported SFX edging towards bankruptcy as well as a period of controversy surrounding delayed royalty payments from Beatport to appropriate labels and artists..
[Via: THUMP]
Valerie Lee is Mixmag's West Coast Editor. Follow her on Twitter