MAMA Buys Back Lovebox

With the help of private equity house LDC, MAMA has continued to extricate itself from its past by buying back its Lovebox Festival in the UK.

In December, LDC came up with the $11.7 million that MAMA Group chief exec Dean James needed to buy back the company from the cash-strapped British music retailer.

The 30,000-capacity event that takes place in London’s Victoria Park was originally founded by Groove Armada DJs Andy Cato and Tom Findlay. It was named after the act’s fourth album.

“We have enjoyed working with Tom and Andy over the years, but the reality is that we have been running this festival since 2009,” said MAMA chief exec Dean James. “Two of the original founders, Tim Harvey and Jools Butterfield, are still very much part of the fabric of the event and working with Rob Silver, Rich McGinnis and Dave McCalmont, the future of the show is in good hands.

“Lovebox is London’s best and most creative festival and we look forward to putting on a great party in Victoria Park this summer on what will be Lovebox’s 10th anniversary.”