Lorne House owner - new acquisition

There is another acquisition for one of the companies run by Roy Tilleard.

Isle of Man based private equity investors The Eighth Day, headed by Mr Tilleard and advocate Jerry Carter, have confirmed they have bought a 50 per cent stake in Dundee based entertainment company P3 Music for an undisclosed figure. A week ago they acquired Lorne House Trust Company.

P3 Music was founded by entrepreneur James Taylor and entertainment lawyer Alison Burns. The duo have built up the fast growing entertainment company using a '360 degree' business model which now encompasses records, artists management and music publishing.

As well as representing Scottish pop group Deacon Blue and jazz guitarist Martin Taylor, the company has also worked with artists including opera star Bryn Terfel, Del Amitri frontman Justin Currie, Yes guitarist Steve Howe and jazz star Jamie Cullum.

Roy Tilleard is best known on the Island as being behind the £13 million Castletown centre redevelopment, based on Malew and Arbory streets..

He is best known in the UK for leading the international expansion of the Deb Group, known for its Swarfega brand which he part-sold to Barclays Private Equity in a £135 million transaction.

James Taylor said: 'We are delighted to welcome the investment from Roy Tilleard and The Eighth Day. He has a wealth of experience in commerce and finance which will help P3 Music implement its growth strategy in the entertainment industry.'

(Picture: Lorne House, recently acquired by Roy Tilleard, from lorne-house.com).