Buckinghamshire global music and audio products company buys Martin Audio

Focusrite

Focusrite plc, the global music and audio products company which comprises the Focusrite, ADAM Audio, Novation and Ampify Music brands, has bought private equity company LDC-backed Martin Audio Ltd and associated companies, the Buckinghamshire-based designer and manufacturer of high-performance loudspeaker systems for the touring and installation markets.

The total consideration to be paid is £39.2 million for the business, which has approximately £4.0 million of cash. This will be funded through a combination of existing cash resources and a new loan facility of £40 million with HSBC and Natwest.

This acquisition follows hot on the heels of Focusrite buying Berlin-based studio loudspeaker manufacturer ADAM Audio.

Focusrite Chairman Phil Dudderidge, said: “I have known Martin Audio since its beginnings in Covent Garden in 1971. Founder Dave Martin and I became close friends in 1989 when I served as an advisor to him and non-executive chairman for a year or so as we prepared the company for sale to Tannoy Goodman International plc (TGI) in 1990. Martin Audio is a close neighbour to Focusrite Audio Engineering in High Wycombe and their current management recognised that Focusrite plc was the obvious trade candidate to acquire the business from its private equity and management ownership structure. My conviction as to the outstanding performance of the Martin MLA system was cemented at BST Hyde Park concerts in recent years, notably Tom Petty in 2017 and Eric Clapton in 2018.”

Tim Carroll, Focusrite CEO, added: “The acquisition of Martin Audio is a strong demonstration of our strategic aim to expand into new markets. Martin Audio is also an established brand with solid financials that instantly add value. More importantly though, they’re culturally aligned with a clear part to play in our unfolding narrative. The Focusrite Group is, first and foremost, a professional music technology company, focused on enriching lives through music by removing barriers to creativity; from that first spark of musical inspiration, to delivering an emotionally charged performance on stage. Martin Audio completes that journey, uniting the audience by creating the ultimate live sound experience. The Martin Audio family share our hunger to innovate and our passion as music and sound enthusiasts. That we’re just a stone’s throw away will only further help unite us in achieving our common goal.”

Martin Audio will continue to operate from its headquarter offices and factory in High Wycombe under the leadership of Managing Director Dominic Harter.

Dominic said: “Martin Audio has been uniting audiences through great sound for almost five decades. Our continued success has been down to a clear, well-executed strategy with over sixty new products launched over the last four years and double-digit growth each year. In Focusrite we have an industry neighbour of the finest pedigree; a global leader in its own right.Their culture mirrors our own and, getting to know the team, I sense a strong similarity with the deep-rooted values of our own Martin Audio Family. Focusrite are the perfect partner to help Martin Audio continue the innovations that have driven its success. So it is with great pride and enthusiasm that we take this next step; a momentous occasion as the Martin Audio brand enters its 50th year. Working with Tim, Phil and the Focusrite team, I look forward to seeing all our staff and the wider family grow together, continuing to bring our unique optimised sonic experience to more and more audiences across the globe.”