When the team behind Ace Records put out its first release in September 1975, they never imagined they’d still be around 40 years later, having built a strong legacy in the reissue market, helping change the way the music business looked at catalogue.

It all started with Chiswick Records, which had chart ambitions similar to any other label as well as catalogue. But, after failing to trouble the charts with any real consistency, founder Ted Carroll, alongside Roger Armstrong ( ...