Following Transom Capital's recent investment in Bose Professional (commercial installation and conferencing business), an exit from its investment in the Mackie brand - the only one left in LOUD Audio LLC - makes complete sense. Transom Capital Group acquired the iconic Mackie, Ampeg, EAW, and Martin Audio brands in October 2017, and subsequently sold all the companies (Ampeg to Yamaha, EAW to RCF, and Martin Audio to itself as it always happens with British companies).
With the Mackie acquisition, Røde can count on the valuable vision of its audio engineer and Chief Technology Officer that has kept Mackie afloat in the last two years. Danny Olesh, based in Melbourne, Victoria, Australia is a respected name in the industry. With more than 40 years of experience in the audio industry, product development, and digital technologies, Olesh is regarded as one of the top live sound engineers in Australia where many of his innovative product ideas came to life.
He founded SM Pro Audio, a manufacturer of innovative and technologically advanced products, including the uMiX Series of Wi-Fi remote controllable digital mixers with USB recording capabilities, which Harman Professional thought it was so innovative and valuable that it acquired the company in 2015. Consequently, Olesh stayed as R&D Project Manager for Harman for over four years, having been recruited by Loud to lead Mackie's product roadmap in March 2021.
"The acquisition represents a new chapter in the evolution of Røde and establishes The Freedman Group – parent company of Røde – as one of the most well-rounded pro audio companies in the world, with an enviable catalogue of products spanning a wide range of audio solutions for content creation, home and studio recording, broadcast, and live sound production," the Røde announcement states.
"I am absolutely thrilled to welcome Mackie to The Freedman Group’s roster of iconic audio brands," says Peter Freedman, its founder and Chairman. "They are true legends, with a pedigree of live sound expertise that is simply unmatched. Today, Røde and Mackie are both leaders in audio, and we share the same passion for creating innovative, high-quality products with a strong customer focus. With this acquisition, The Freedman Group is now a premier audio technology company offering world-class products to an even wider range of customers, from up-and-coming content creators to professionals working in live production and everyone in-between."
An integral player in the home recording revolution in the 1990s, Mackie quickly made a name for itself as a highly innovative brand with a focus on ‘built-like-a-tank’ quality and affordability. Groundbreaking products like the 1602 and D8B mixers and SRM450 loudspeaker were instant classics and, combined with a unique approach to marketing, established Mackie as a go-to brand in the recording and live sound industries – a status they uphold today with leading products like the ProFX series of compact mixers, the Thump series of powered loudspeakers, and the popular CR series of desktop production monitors.
"Mackie is one of the great success stories in pro audio and I have admired them for a long time," confirms Peter Freedman. "My background is in live sound production. It’s something I have always been passionate about, ever since I saw Tom Jones at the Chevron Hotel in Sydney as a kid back in ’69 – my father Henry installed the sound system there, as well as many other venues across the city. Live sound is where I cut my teeth in audio, so this very much feels like that part of my career coming full circle."
He continues: "Having met Greg Mackie before I even started Røde, I found his passion for audio and approach to business inspiring. Their origin story is uncannily similar to ours. Both brands helped fuel the democratization of DIY recording in their own way, Mackie with their mixers and speakers and Røde with our microphones. We shared a similar path and today both brands are leaders in what we do, so I am incredibly excited to bring these two audio icons together."
Greg Mackie, founder of Mackie and audio industry legend, shares a similar sentiment, saying: "I can't think of a better company for Mackie to be associated with than Røde."
Speaking about the acquisition, Alex Nelson, current Mackie CEO says: "The entire Mackie team is excited to be joining forces with Peter, Damien and their incredible crew. Having worked in the audio industry for many years, I have always held Røde in high esteem. Their manufacturing capability and technology leadership is second-to-none in pro audio and I think they are the perfect partner to help Mackie expand as we enter an exciting new chapter in our history. Also, the timing could not be better. We have an incredible product roadmap ahead of us, which we’ll be making some big announcements for leading up to NAMM ’24. This is an extremely exciting time for Mackie, and we couldn't be happier doing all of this alongside the Røde team."
"Røde and Mackie are incredibly harmonious brands," says Freedman Group CEO Damien Wilson. "This acquisition diversifies our product offering in a very complementary way. We now offer end-to-end audio solutions for everyone from musicians setting up a home studio to professional live sound engineers. Whilst Mackie's brand, manufacturing and operations will remain unchanged, there are incredible opportunities to combine the complementary IP, infrastructure and resources of both brands in powerful ways. I am very excited about the potential this offers Røde and Mackie."
Commenting for Røde Microphones LLC, Board of Directors' member Joe Hockey says: "This acquisition offers powerful growth opportunities for Røde and is a significant milestone in their global expansion. It is exciting to see Røde continue to invest in their future, and I am looking forward seeing the ongoing success of these two legendary brands."
Legal counsel for Røde was provided by Skadden, Arps, Slate, Meagher & Flom and Gilbert + Tobin, with financial advisory from PwC. Funding was provided by Amicaa & Carlyle, with legal counsel from Baker McKenzie. Seller Transom Capital Group received legal counsel from Kirkland & Ellis and financial advisory from Lincoln International.
"It has been our pleasure to work with the Mackie leadership team over the past several years," says Russ Roenick, Managing Partner for Transom. "Their spirit of innovation, customer-facing approach, and overall drive for excellence has built a company culture that is unparalleled. I wish the team continued success as it takes the next step in its journey alongside the outstanding team from Røde."
With a storied history dating back over 50 years, Røde is a uniquely Australian-owned and operated company with a passion for innovation, obsession with quality, and enduring commitment to making audio accessible to everyone. Røde products are designed and manufactured at its headquarters in Sydney, Australia. Comprising five warehouses with a total footprint of over 280,000 square feet, Røde's state-of-the-art facilities house over 500 million dollars in precision machinery and an international team of more than 450 people across highly skilled disciplines: electronics engineering, industrial design, technical engineering, robotics, audio and acoustics engineering, metal production, toolmaking, injection-mould technology, logistics, assembly, quality control, finance, marketing, and sales.
As well as its Sydney HQ, Røde has offices around the world, including the USA, China and the UK, and its products are exported to 118 countries globally.
Røde is part of The Freedman Group, alongside APHEX, Event and SoundField.
www.mackie.com
www.rode.com
