UK console companies pool resources [DigitalProductionME.com]
(DigitalProductionME.com Via Acquire Media NewsEdge) RELATED: Electra Partners acquires Calrec Audio
Three British console companies, DiGiCo, Allen & Heath and Calrec have formed a new professional audio group as part of a strategy to share technology, resources and allow "interconnectivity" across product lines.
The companies will each retain their "unique skills, customer relationships, and the identities of each brand", according to a statement from the new group.
James Gordon, CEO of DiGiCo, will become group CEO of the new entity, supported by a management team from across the new group.
The DiGiCo team spent the past 18 months consulting with Electra Partners – owner of Allen & Heath and Calrec – about the possible combination of the three console brands.
The resulting deal marks a partial exit of ISIS Equity Partners from its investment in DiGiCo. ISIS, which retains a minority shareholding in the new group, originally invested in DiGiCo in December 2011 in a £50 million management buyout.
James Gordon said: "We have bold plans for the group but it is imperative that each company maintain its own independence and style. None of these brands needs to trade off each other's technology or reputation.
"These are three great companies and all the brands currently in the group have enviable reputations for technology, audio quality, reliability, and perhaps most importantly, customer focus and care. The strategy is to share technology and resources across the group and allow some interconnectivity across the product lines," he added. "The combined R&D teams are about to enter a new world of possibilities and we intend to take full advantage of their resources, passion, and experience. It's an amazing opportunity for us, and just maybe the whole British Pro Audio industry."
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Glenn Rogers, managing director of Allen & Heath, added: "The creation of the group with DiGiCo and their management is an impressive combination. It will certainly add new momentum to what Allen & Heath and Calrec had already planned for the future."
Henry Goodman, Calrec's sales and marketing director, said: "This exciting formation gives Calrec new opportunities for swifter development of a host of ideas we have been wanting to bring to the market. We will have a vast pool of engineers to share new ideas for the industry and target them specifically to each brand's needs. Customers can expect us to maintain, and in some areas improve, our very high levels of support and service."
Electra Partners and ISIS pooled resources to support the management of the new console group . Charles Elkington, investment partner at Electra Partners, said: "DiGiCo augments our existing investment in the professional audio sector. We have worked hard over the last 18 months to bring together these three successful businesses. We look forward to working with James Gordon and his team to grow the group, while also preserving the distinctive brand identity and excellent customer relationships of each business."
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