Armanino buys Blue Sky Group and Royalty Compliance Organization

27 March 2023 2 min. read
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Armanino, a national accounting and consulting firm, has acquired Nashville-based music business management firm Blue Sky Group and music rights and royalty auditing firm Royalty Compliance Organization (RCO). The deal, for which financial terms were not disclosed, takes effect April 1, 2023.

Blue Sky Group works with musicians, songwriters, athletes, actors, and other high-net-worth individuals to ensure their businesses drive maximum profitability. The firm has offerings across business and financial management oversight; auditing, due diligence, and valuations; real estate and insurance consulting; and tour accounting.

RCO works with licensors, artists, and writers on matters relating to royalty compliance. The firm provides services in royalty compliance audits, recording and copyright valuations, licensing, profit participation engagements, financial due diligence, and litigation support.

The acquisition of Blue Sky and RCO will strengthen Armanino’s business management practice and its broader audit and tax capabilities. The deal will also give the San Ramon, CA-based firm its first Nashville office.

Armanino buys Blue Sky Group and Royalty Compliance Organization

Blue Sky’s Harlan Hallet and Steven McMillan and RCO’s Wayne Coleman and Darla Crain will join Armanino.

"As far as industry-leading experts, we could not be more thrilled with the knowledge and talent that Blue Sky and RCO bring to our team, we know this will be incredibly valuable for our clients,” said Craig Manzino, partner, business management at Armanino. “This will make Armanino one of the only business management groups in the world that will be able to offer the full slate of entertainment services while allowing us to deepen and expand our reach into Nashville, which we view as extremely important for our growth goals.”

Armanino’s business management practice provides entertainers and athletes with bespoke solutions to preserve and grow their net worth. The practice’s offerings include cash management and financial planning, investment guidance, tax planning and preparation, bookkeeping, and real estate advisory.

The transaction comes as the music industry emerges from pandemic lockdowns that muzzled revenue-driving tours and concerts. Artists also continue to face a complex array of challenges ranging from the sale of music catalogs to navigating royalties in the streaming era.