UK-based K2 Agency has joined forces with Los Angeles private equity firm The Yucaipa Companies (TYC) whose entertainment arm owns agency Artist Group International (AGI).
The deal brings together two of the live music market’s leading agents,
AGI was formed in November 1999 by CEO Dennis Arfa and paid $4.24 million for Rob Prinz’s Principal Artists, before it was acquired by TYC in 2012.
Its roster includes Rod Stewart, Billy Joel, Linkin Park and Mötley Crüe.
K2 was formed by agent John Jackson in October 2002, with clients Iron Maiden, Metallica and Guns N’Roses, after he left Helter Skelter agency.
The deal was facilitated directly by TYC’s owner, US billionaire Ron Burkle, and represents a growth in its entertainment interests, which also include US festival producer Danny Wimmer Presents.
“John runs one of the best agencies in the world,” says Arfa. “We share many clients including Metallica, Ghost, and Volbeat and over the years have developed a natural synergy.
“We are pleased that our ownership has staunchly facilitated and supported our expansion efforts.”
Jackson says, “I have collaborated with Dennis and AGI for many years. Not only is there mutual respect between us, but we share a similar work ethic when it comes to our artistes, agents and staff.
“Joining forces is the perfect fit.”
Audience has requested further comment from the companies.