Independent music company Exceleration Music has acquired Mack Avenue Music Group, which owns a collection of jazz labels.
The acquisition includes Mack Avenue’s catalog and its active roster of artists. Mack Avenue’s labels have earned several dozen Grammy nominations and awards.
The deal arrives two years after Exceleration acquired independent digital and physical distribution/services company Redeye for an undisclosed sum.
Exceleration Music plans to “leverage its robust distribution, marketing, and technological resources to enhance Mack Avenue’s global impact.”
Exceleration was launched in January 2021 by five indie sector executives, backed by what it described as “substantial investment capital.”
The music venture is still led by its group of original founders, including Glen Barros (former CEO of Concord Music Group), Dave Hansen (Executive Chairman of Merlin and former GM of Epitaph), Charles Caldas (former CEO of Merlin), Amy Dietz (former GM of Ingrooves) and John Burk (GRAMMY-winning producer and former president of Concord Records).
The US-headquartered company says that it is funded by investments from each of its partners, as well as institutional and private investors.
Amongst Exceleration’s investments to date are Bloodshot Records, Kill Rock Stars, Mom+Pop, and SideOneDummy, and most recently, India-based indie label Azadi Records, which marked Exceleration’s expansion into to Asia.
Exceleration Music says that its latest deal strengthens its “commitment to both legacy and new jazz artists”. The company already owns the multiple Grammy award-winning jazz label, Candid Records.
Mack Avenue’s operations will now be integrated with Candid Records to form Exceleration’s overall jazz group and will be led by current Mack Avenue President, Denny Stilwell.
This collective jazz group will also feature a team of other key executives from both Mack Avenue and Candid Records.
Founded in 1999 by Gretchen Carhartt Valade, former chair of the American apparel brand Cathartt, Mack Avenue’s key artists include Christian McBride, Cécile McLorin Salvant, and Kenny Garrett.
“The combining of Mack Avenue and Candid Records represents an important step in our mission to build the ultimate independent label home for today’s greatest jazz artists.”
John Burk, Exceleration Music
Commenting on the deal, John Burk, Partner at Exceleration Music, said: “We’re thrilled to welcome Denny, his team, and the incredible Mack Avenue artist roster into the Exceleration family.
“The combining of Mack Avenue and Candid Records represents an important step in our mission to build the ultimate independent label home for today’s greatest jazz artists.
“Together, we will continue to honor the labels’ remarkable heritages while providing the resources and expertise to help our artists reach new heights.”
“Joining forces with Glen, John and the like-minded team at Exceleration is a transformative opportunity for Mack Avenue and our unique artist roster.”
Denny Stilwell, Mack Avenue Music Group
Denny Stilwell, President of Mack Avenue Music Group, added: “Joining forces with Glen, John and the like-minded team at Exceleration is a transformative opportunity for Mack Avenue and our unique artist roster.
“With Exceleration’s support, knowledge and enthusiasm, we are confident our special brand as artist advocates will thrive as we continue to bring this fantastic music to the world.”Music Business Worldwide
