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PE-backed Nettwerk Music Group recapitalizes business

Nettwerk Music Group Inc. recapitalized its business in a move that includes the purchase of HBC Investments' ownership stake in the company.

The stake purchase, financial details of which were not disclosed, is part of a broader financing plan that provides capital for Nettwerk Music Group to build on and speed up its growth strategy.

In April 2013, Nettwerk Music Group raised $10.25 million of equity capital in a funding round joined by the company's founding partners, private equity firm HBC Investments and existing investor Beedie Capital.

Canada-based Nettwerk Music Group is a record label that publishes and distributes music recordings in North America and Europe. HBC Investments is focused on investing in small and mid-size private companies.