Managing Director Jonathan White featured in Label & Narrow Web
In the article Have we reached “peak sponsor M&A” in labels?, Jonathan examines how sponsor-led consolidation has reshaped the label industry and what the data suggests about where the market is headed next.
After peaking in 2021–2022, add-on activity declined by ~40%, even as the number of sponsor-backed platforms continued to grow. Today, 71% of platforms are five years or older, increasing pressure on returns and accelerating the need for exits.
While the fundamentals that attracted investors, including fragmentation, strong cash flow, and customer stickiness, remain intact, the M&A playbook is evolving.