Martin Audio announces management buyout
Friday, 15 August 2003
Martin Audio announces management buyoutThe five Martin Audio directors (left to right): Tony Allen, Rob Lingfield, David Bissett-Powell, Anthony Taylor and Bill Webb - following the buyout announcement.
UK - The directors of Martin Audio and TC Group have announced that on 13 August, the management team of Martin Audio purchased the company from the TC Group. The management buyout was supported by ISIS Equity Partners plc and The Royal Bank of Scotland.

David Bissett-Powell, managing director of Martin Audio, told us: "The management of Martin Audio have long aspired to independence and are pleased that under the TC Group we have had the opportunity to attain this goal. Having established strong links within the Group, we will continue to work closely with Lab.Gruppen and other group companies and expect new co-operation with TC Applied Technologies regarding digital power, processing and networking."

The CEO of TC Group, Anders Fauerskov, added: "Since the acquisition of TGI plc by TC, Martin Audio has been a well-managed and strong performer and we wish the management all the best in the future. We expect the TC Group and Martin Audio to continue working closely together on products and technologies." Following the transaction, TC Group will consist of Tannoy, Lab.Gruppen, Goodmans Loudspeakers, TC Electronic, TC Works, TC Applied Technologies, and TC Helicon.

(Ruth Rossington)

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