Further investment for Audiotonix ?
James Gordon, CEO, looks forward to the opportunities this will bring to the group, commenting “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.”
The Audiotonix brands are renowned globally for innovation, outstanding performance and reliability. Over the last few years, and with the support of Epiris and Livingbridge, the company has become the market leader in live sound around the world with a dedicated management team, innovative products and commitment to the future of the business and customer base. Completion of the transaction is anticipated to close in the first quarter of 2017, subject to satisfactory clearance from relevant competition and regulatory authorities.
Electra Private Equity (ELTA.L) is to receive 203 million pounds after its investment arm sold Audiotonix, a manufacturer of audio mixing consoles, to French buyout group Astorg. The sale comes as Electra is in the process of separating itself from the investment arm, which has renamed itself Epiris and is due to split from the firm in June.
Epiris said the deal had generated a return close to five times the amount originally invested. "This has been a fantastic deal for Epiris and its investors, and clearly demonstrates our strategy in action," said Charles Elkington, a partner at Epiris. The Auditonix sale is expected to close in the first quarter of this year.