Round Hill Acquires Rock Producer Steve Lillywhite’s Royalty Income Stream

Round Hill Acquires Rock Producer Steve Lillywhite’s Royalty Income Stream

The purchase includes Lillywhite’s share of royalties from albums like U2, Dave Matthews Band and The Rolling Stones.

Steve Lillywhite

Steve Lillywhite at the GRAMMY SoundTables: Behind The Glass With Steve Lillywhite at Shure, Inc on May 15, 2014 in Niles, Illinois.

Barry Brecheisen/WireImage for NARAS

Round Hill Music Royalty Partners has acquired the royalty income stream of Steve Lillywhite, one of the premier rock producers of the last 45 years, in a deal that includes his share of royalties from such albums as U2‘s October and War; Dave Matthews Band‘s Under the Table and Dreaming and Crash; and The Rolling StonesDirty Work. The terms of the deal are not known.

Additional recordings on which Lillywhite served as a producer or worked are covered by the deal, including music by Phish, Peter Gabriel, Morrissey, Talking Heads, Counting Crows, Siouxsie and the Banshees and The Psychedelic Furs.

“As someone who grew up idolizing the bands and albums Steve Lillywhite produced, it is an honor to partner with him on this exciting transaction,” Round Hill Music CEO Josh Gruss said in a statement. “Steve’s catalogue includes royalties on some of the most highly-respected songs and albums of all times. We are delighted to have achieved this landmark transaction .”

Lillywhite, for his part, stated that the deal brings his catalogue under the umbrella of “a friend [Gruss], a pioneer in music royalty business and an ideal partner for me and our family as I look forward to my next steps .”

According to the announcement on the transaction, Lillywhite has produced or contributed to more than 500 records in his more than four-decade career. During that time, he won the Grammy for Producer of The Year in 2006 for U2’s How to Dismantle an Atomic Bomb, which also won the Grammy for Album of the Year and Best Rock Album. He also won Grammys as one of the engineers/mixers listed on U2’s “Beautiful Day” and “Walk On,” which won Record of the Year in 2001 and 2002, respectively.

Other acts Lillywhite has produced or worked with during his career — and whose music is part of the acquisition — include XTC, The Pogues, Big Country, Joan Armatrading, Sinead O’Connor, Marshall Crenshaw, Crowded House, The Killers and Chris Cornell.

The Lillywhite deal adds to Round Hill’s overall investment portfolio, which has now taken in more than $200 million in investments in more than 40 acquisitions, according to the company.

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