OAKLAND, Calif., July 28, 2009 – Cinder Block, Inc., a leading independent entertainment merchandise company announced today that it has been acquired by Transom Capital Group, a Los Angeles based private equity firm. The acquisition will allow Cinder Block to dramatically expand its customer base, deepen relationships with artists, and offer new services that support the quickly evolving needs of its customers. Jeffery Bischoff, Founder and President of Cinder Block, will retain ownership in the company and remain onboard as its leader and creative force.
“After careful consideration of many different partnerships, we are excited to find a partner with the level of creativity and operational excellence that Transom Capital brings to the table. Combined with their strong relationships in music and media we will be able to develop new ways to drive more profitability for the artist. Innovative programs and new revenue streams will guarantee our artists maximize earnings and exposure for their brand,” adds Jeffery Bischoff.
The principals of Transom Capital bring strong relationships in both the music industry and the retail marketplace that will speed Cinder Block’s growth. Furthermore, Will Merrick, former Director of Digital Programming and Strategy at MTV, will be joining the company as EVP of Business Development, focused on developing new products and services that will meet the growing needs of the artist. “Merchandising, online services, and brand-building, more broadly, are growth areas in the music industry. Cinder Block’s reputation for excellence and 20-year operating history, coupled with Will’s experience, position the company perfectly to attack these markets and drive more profitability for the artist,” said Russ Roenick, Managing Director of Transom Capital.
As a leader in the industry, Cinder Block provides merchandise services across a wide variety of artist genres and formats. The company currently has several high-profile tours in-market, including Kid Rock, Death Cab for Cutie, The Yeah Yeah Yeahs, Counting Crows, and Dane Cook. It also provides merchandise for events, such as Vans’ Warped Tour, and creates unique retail opportunities for licensees in movies, television, and sports.
“We are excited to partner with Jeffery and with a company that has such a revered history. Cinder Block’s extraordinary relationships and focus on customer service define it within the music merchandise space”, said Ken Firtel, Managing Director of Transom Capital. “Together, we are developing several new models for serving artists that will adapt the merchandise business to the changes within the music industry and position Cinder Block to effectively serve artists for decades to come.”