Headphone maker Zound to acquire Marshall Amplification
By Josh White
Date: Thursday 30 Mar 2023
(Sharecast News) - Swedish headphones producer Zound Industries announced the acquisition of Marshall Amplification on Thursday, to create the Marshall Group.
The combination would see the iconic Milton Keynes-based guitar amp maker be taken out of family control for the first time, although they would retain a 24% stake in the new company.
Zound already had a decade-long relationship with Marshall, developing a range of headphones and wireless speakers under the brand.
The deal would see Zound acquire all of Marshall's brands and subsidiaries, including Natal Drums, Marshall Records, and Marshall Live Agency.
It said that on completion, Marshall Group would have revenues of more than $360m over the last 12 months, with double-digit profitability.
The Marshall family would be the group's largest shareholder owning 24% of the company, with family members set to play "key roles" to ensure the legacy of the Marshall sound and brand.
Zound added that the new company would leverage its design, branding, and go-to-market capabilities, while building on Marshall Amplification's experience and reputation as an icon in the history of rock music.
"With this game-changing deal, Marshall Group will become the main challenger in our industry and the most exciting alternative to traditional players, bringing even greater innovation and value to clients, employees, and investors alike," said Henri de Bodinat, chairman of Zound Industries and of the new group.
Chief executive officer Jeremy de Maillard added that combining the two firms' strengths and positioning as the Marshall Group would fuel an ambition to create "premium, innovative products and experiences" for musicians and music fans globally.
"Zound has proven itself as a global, fast growing, and progressive company.
"With the Marshall Group, we are set to accelerate our profitable growth in a $100bn market."
Marshall Amplification is an unlisted plc owned by two family-controlled trusts, while Zound Industries is held by investors including Zenith Venture Capital, GP Bullhound, Time for Growth and Telia.
Reporting by Josh White for Sharecast.com.
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