PARIS, France (CelebrityAccess) — Just three years after the company went public, some of the biggest investors in the French music services company Believe, are exploring taking it private again.
According to Reuters, a group of investors which includes the company’s CEO and founder Denis Ladegaillerie and U.S. investment firm TCV, have been in talks with private equity investors about a potential deal.
Potential private equity suitors include Swedish private equity group EQT and Permira, though talks with the later entity ended in December, sources told Reuters.
Believe, which was launched in 2005, collaborates with artists and labels to help artists build their brands on social media and to find placement in streaming platforms. The company also operates Tunecore, the independent digital music distribution platform.
The company went public in 2021 but has since struggled to find its footing in the market with its share price currently trading at about 50% of its initial public offering.
According to Reuters, both TCV and Denis Ladegaillerie declined multiple invitations to comment on the potential sale.
