XL Recordings was originally launched by Tim Palmer, Nick Halkes and Richard Russell as a dance offshoot of Beggars Banquet in 1989. They had early hits with rave acts like SL2 and, in particular, The Prodigy, that helped establish it as a force in British dance music. The label has grown into one of the most commercially successful labels in the UK thanks to acts like Basement Jaxx and Jack Penate. Both Halkes and Palmer left the company leaving Russell in sole charge and, since then, he has vastly widened the brief to include artists like The Raconteurs, Dizzee Rascal and Gil-Scott Heron. It’s widely regarded as one of the best independent labels in the world.