Audiotonix sold to European equity firm
- Details
Epiris formed Audiotonix after acquiring Allen & Heath for £42m in 2013 and combining it with Calrec and DiGiCo, which it bought a year later. The enlarged group, led by chief executive James Gordon has quadrupled earnings in four years.
Epiris partner Charles Elkington said, “This has been a fantastic deal for Epiris and its investors.”
A statement from Audiotonix says, “AudiotAudiotonix is delighted to announce Astorg’s investment into the group. Astorg is a European private equity firm with total funds under management of over €4 billion, that actively seeks to partner with market leading companies lead by entrepreneurial management teams.”
James Gordon commented, “We are delighted to partner with Astorg who have demonstrated an impressive understanding of our business and our core strengths. With their support we aim to capitalise on our manufacturing capabilities, strengthen our worldwide development program and enrich our product portfolio.”
François de Mitry and Stéphane Epin, partners at Astorg said, “We are thrilled to invest in Audiotonix and support its fast growth trajectory. In a dynamic live sound industry, Audiotonix differentiates itself by the undisputed quality of its product, superior support to their clients, and a brilliant management team. This brand equity was crafted by years of pioneering research and development, and a long term vision of managers who are passionate and innovators of their business. We are extremely pleased to support James Gordon and his team to bring Audiotonix even further.”
Completion of the transaction is anticipated to close in the first quarter of 2017, subject to satisfactory clearance from relevant competition and regulatory authorities.
(Jim Evans)
