In 2018, Primary Wave surpassed the $1 billion mark in assets and cash under management with the formation of Primary Wave Music IP Music Fund 2, LP. This milestone signaled a new phase of institutional growth and reinforced the company’s position as a leading independent music publishing company in the world.
That same year, Primary Wave acquired an 80% interest in Chris Blackwell’s Blue Mountain Music, adding the legendary Bob Marley catalog and associated works to its portfolio. The acquisition marked one of the most culturally significant reggae publishing deals in recent history.
Between 2018 and 2019, the company completed a series of high-profile catalog acquisitions and partnerships, including: Count Basie, Tom Hamilton (Aerosmith), Pete Waterman, David Rose, Kenny Loggins, Counting Crows, Paul Anka, Boston, Tommy Shaw, Sly & The Family Stone, Culture Club.
Primary Wave also established landmark estate partnerships with Whitney Houston and Prince, encompassing publishing, master recordings, name, image, likeness, and life rights — further solidifying the company’s leadership in legacy artist stewardship and long-term brand management.
With the acquisition of Gaither Music Group, Primary Wave officially launched its Master Recordings Division, expanding beyond publishing into a fully integrated music rights platform.
In 2019, Goldman Sachs honored Larry Mestel as one of the “100 Most Intriguing Entrepreneurs” at its annual Builders & Inventors Summit, recognizing his leadership and vision in building one of the world’s leading independent music companies. Also Larry was featured in Variety’s 500 Entertainment Leaders and Icons. An honor that he was also received in 2021, 2022, and 2023.
Marketing & Branding Highlights:
- Facilitated the recording and release of “Higher Love”, Whitney Houston’s collaboration with Kygo, marking her first Hot 100 entry in 10 years. The song reached #1 on two Billboard Dance charts and #2 on the U.K. Official Singles Chart.
- Featured Smokey Robinson’s music in a new Netflix Motown animated series.
- Placed Bobby Hebb’s “Sunny” in a national ad campaign for Indeed.com.
- Facilitated the recording and release of “Do You Hear What I Hear”, Whitney Houston’s collaboration with Pentatonix for the 2019 Holiday season.