Rock band Metallica, represented by its affiliated growth equity and content investing platform, Black Squirrel Partners, has acquired a controlling majority interest in Furnace Record Pressing, a provider of vinyl records and related services.
Founded by Eric Astor in 1996, Furnace makes records at its 70,000 square foot facility in Alexandria, Va. Furnace offers standard and heavyweight pressings, color vinyl and custom vinyl etching, and oversees other services related to the creation and packaging of records. The deal works to formalize an established relationship between the band and Furnace that has produced over five million pieces of Metallica vinyl since 2014.
“This deepened relationship between Metallica and Furnace ensures that fans of vinyl everywhere, particularly our Fifth Members, will have continued access to high quality records in the future,” says Lars Ulrich, co-founder of Metallica.
Kirkland & Ellis acted as counsel and Citrin Cooperman assisted with financial due diligence and tax advisory for Metallica. Dunlap, Bennett & Ludwig acted as counsel to Furnace.