McIntosh was initially purchased by Japanese car audio maker Clarion in 1990, which allowed the company to expand into car audio and home theater. In May 2003, Clarion sold McIntosh Laboratory to D&M Holdings, also of Japan. The company continued to operate independent engineering, design, and divisions. In 2012, Fine Sounds SpA of Milan, Italy, acquired McIntosh, after the Fine Sounds Group project, fostered by Italian asset management company Quadrivio SGR, the main shareholder of the group, also acquired the Italian high-end loudspeaker brand Sonus Faber. Quadrivio also invested in the acquisition of Audio Research in 2009, Sumiko in 2010, and Wadia in 2011, making the Fine Sounds Group a leader in the high-end audio segment, in terms of turnover. In 2014, Mauro Grange, the CEO of Fine Sounds, and Charlie Randall, president of McIntosh Laboratory, announced their plans for a management buyout of Fine Sounds Group in partnership with LBO France and Yarpa, including a relocation of the Headquarters from Milan to New York, and in 2016, the Fine Sounds Group was officially renamed McIntosh Group. In 2020, Audio Research left the McIntosh Group when the company was sold to its former North American Sales Manager, Trent Suggs.
Highlander Partners’ principal focus is on making direct and control investments in manufacturing, consumer products, and food and beverage products. In September of 2016, Highlander added Rashid Skaf, the former CEO of AMX, as a Senior Advisor to identify technology company opportunities. In 2017 the investment firm announced the acquisition of Biamp Systems and Rashid Skaf (pictured below) was appointed President, CEO, and co-Chairman of Biamp.
Now, apparently Highlander Partners has a plan for the consumer audio space, anchored by the legendary McIntosh brand. Apart from the legendary brand that is McIntosh Labs, still headquartered in Binghamton, New York, the McIntosh Group also features Sonus Faber, based in Vicenza, Italy. Sonus Faber offers a range of products spanning from masterfully designed loudspeakers to custom installed solutions and cutting-edge wireless streaming speakers. In fact, McIntosh and Sonus Faber have been a regular presence at trade-shows like Integrated Systems Europe, given its focus on residential integration.
In addition, McIntosh Group provides fully integrated distribution services across North America, Central and South America, the United Kingdom, and Benelux for their own brands, as well as several third-party brands including Pro-Ject (premium turntables), Rotel (premium amplifiers and electronics), and Bassocontinuo (Italian-crafted audio racks). The Group also boasts a thriving automotive entertainment business, providing audio technology for select premium models, including the Grand Wagoneer and Jeep Grand Cherokee L under the McIntosh brand and the Maserati Grecale and MC20 under Sonus Faber.
"We have been evolving our investment strategy around consumer-focused brands and luxury goods over several years. The opportunity to acquire brands as strong as those within the McIntosh Group does not come often and we are very excited to be part of the Company’s next chapter. We believe there is a unique opportunity to acquire other consumer luxury technology brands and intend to stay active in the category," says Jeff L. Hull, Highlander Partners President and CEO.
In a statement, Jeff Poggi and Charles Randall, co-CEOs of the McIntosh Group stated: “We are thrilled to continue to pursue our growth trajectory alongside the Highlander team. Across all brands and product categories we continue to see remarkable results and an excess of opportunity; we believe Highlander’s financial approach and operational expertise can help seize these prospects."
Ben Slater, Partner at Highlander added, “McIntosh Group sits at the intersection of several strong trends that we are eager to be a part of. The residential environment is rapidly evolving, with technology becoming an integral component throughout the home. Moreover, consumers across the demographic spectrum are demanding high fidelity audio now more than ever, and premium brands such as McIntosh and Sonus Faber are increasingly viewed as functional pieces of art."
Highlander Partners has over $2 billion of assets under management. The firm focuses on making investments in targeted industries in which the principals of the firm have significant operating and investing experience, including basic manufacturing, food, chemicals, consumer products, and others.
www.mcintoshgroup.com
www.highlander-partners.com
