Private equity investors in the Isle of Man have bought half of a Dundee-based music company representing some of Britain’s best-known artists.
P3 Music sold the 50% stake to The Eight Day for an undisclosed six figure sum.
The company represents Deacon Blue and jazz guitarist Martin Taylor and has worked with opera star Bryn Terfel, Del Amitri frontman Justin Currie, former Yes guitarist Steve Howe (pictured) and jazz pianist Jamie Cullum.
James Taylor, the co-founder of the Dundee business, said the cash injection would be used to expand one of its record labels into the far East.
In particular, P3 has recently signed a deal with Sony for Chinese distribution, a market which is rapidly expanding.
The company says the sale will mean it’s on target to turn over £2.5m in three years.
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