Jamen Capital and Merlin Complete Acquisition of Curve Royalty Systems

New ownership secures Curve’s independence and continuity while providing greater backing for innovation, product development and growth.

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Jamen Capital and Merlin have completed their acquisition of Curve Royalty Systems from Virgin Music Group, following final approval of the transaction by the European Commission.

Completion of the acquisition marks the beginning of a new chapter for Curve as an independent, standalone business, backed by two strategic partners committed to preserving its neutrality while supporting its long-term growth.

Curve’s leadership, team, brand, products, services and client relationships remain the same post the transaction. Richard Leach will continue to lead the business as CEO, supported by the existing management and day-to-day teams, while clients will retain their usual contacts and continue to receive the same levels of service, support and data security.

Under its new ownership, Curve plans to accelerate innovation, expand its existing services and develop new products for the record labels, publishers, distributors and other music businesses it serves around the world.

The acquisition brings together Merlin’s deep knowledge of and connection to the global independent music community with Jamen Capital’s long-term investment approach and experience across music technology and infrastructure.

Richard Leach, CEO of Curve Royalty Systems, said, “Completing this transaction gives Curve the independence, stability and backing we need for the next stage of our development. For our clients, it is very much business as usual: the same team, products, service and commitment to protecting their data and interests. What changes is our ability to invest more ambitiously in the future. With the support of Jamen and Merlin, we can accelerate innovation, develop new products and continue building the elite-level infrastructure that music businesses need to manage increasingly complex royalty flows.”

Leach added, “Downtown believed in Curve, invested in our team and supported our growth from the moment it acquired the business in 2022. Pieter, Justin, Andrew and the wider Downtown team have worked incredibly hard on our behalf throughout this process, and we thank them for everything they have done. While our ownership is changing, the friendship and mutual respect between our teams remain strong.”

Matt Spetzler, Founding Partner of Jamen Capital, said, “Curve has earned the trust of music businesses by combining sophisticated technology with genuine sector expertise and outstanding service. Our priority is to protect everything that has made the company successful while giving Richard and his team the resources to move faster, innovate and create even greater value for clients.”

Charlie Lexton, CEO of Merlin, said, “Curve is vital infrastructure for independent music businesses around the world. Completing this acquisition secures its independence and ensures it remains neutral, trusted and closely connected to the community it serves. We are proud to back the team as it expands the platform and develops the next generation of products and services for the sector.”

Curve provides royalty processing services across recorded music and publishing, supporting thousands of labels, distributors, publishers and other rightsholders globally. Its clients include Armada, Defected, Epitaph, Exceleration, Reservoir, Sony Pictures Entertainment, Virgin Music Group, Netflix and BBC/Demon.

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