Primary Wave Confirms Acquisition of Kobalt

Primary Wave Music, the privately held publisher and talent agency, has laid out official plans to purchase Kobalt, the large-scale independent publisher. Primary Wave is purchasing Kobalt from the private equity firm Francisco Partners, with an estimated $1.5 billion contribution from the investment manager, Brookfield.

The deal:

• This purchase brings together two of the largest independent music companies.

• Primary Wave manages assets in partnership with catalogs for international superstars such as Bob Marley, Prince, and James Brown.

• Kobalt represents publishing for hundreds of artists, including Paul McCartney and Foo Fighters.

• Laurent Hubert will continue to lead Kobalt alongside the company's current management team.

• Primary Wave will own Kobalt’s worldwide operations, its catalog of copyrights, and amra (its digital collection arm).

• The deal is expected to be closed by Q3 2026.

• Once the deal is closed, Kobalt Founder Willard Ahdritz will step down as Chairman of the Board.

What they said:

• Larry Mestel, CEO & Founder, Primary Wave Music: “Over the many years Laurent and I have known each other, I have always been impressed by the remarkable team he has built, as well as the extraordinary growth Kobalt has experienced under his leadership. This acquisition will only enhance his efforts to provide creators individualized attention and specialized support at every stage of their journey and to provide a very significant amount of capital to Kobalt for continued growth.”

• Hubert: “Primary Wave understands our vision of independence and the importance of our ‘creator first’ mindset driven by service, technology, and creativity. We are incredibly excited about our next chapter with them as our partner.