TPG Growth to Acquire Leading African Music and Entertainment Company TRACE

January 23, 2018

Willkie advises TRACE, TRACE’s co-founder, Olivier Laouchez, and the TRACE management team in the transaction.

TPG Growth, a middle market and growth equity investment platform of the global private investment firm TPG, announced it will acquire a majority stake in TRACE, a market leader in afro-urban music and entertainment. The remaining stake will be owned by TRACE’s co-founder Olivier Laouchez and the TRACE management team.

TRACE’s acquisition by TPG Growth, a global investor known for its ability to grow and scale businesses, will help the company accelerate its transformation into a leading global afro-urban digital entertainment group. TPG Growth’s previous investments in media and entertainment have included leading music streaming service Spotify, online makeup subscription and delivery service ipsy, and next-generation motion picture, television, and digital content studio STX Entertainment.

Founded in 2003, TRACE is a global multi-platform media and entertainment company that reaches 200 million viewers and listeners across 160 countries. As a major youth media brand in Sub-Saharan Africa, TRACE owns and operates 30 digital and mobile services, 21 pay TV channels, and seven FM radio stations. It also hosts more than 400 concerts, web simulcasts, talent search competitions and events across the globe each year.

Willkie represented TRACE, TRACE’s co-founder, Olivier Laouchez, and the TRACE management team in the transaction. The Willkie deal team is led by partner Eduardo Fernandez, and included special European counsel Charles-Antoine Erignac, and associates Gil Kiener and Perrine Saunier.