Announced in April 2015, the conglomerate of British audio companies, brought together DiGiCo (and later its DiGiGrid venture), Allen & Heath and Calrec, with direct investments from top British Private Equity houses. Audiotonix, created a global market leader in the design, engineering and manufacture of professional audio mixing consoles and ancillary products. In February 2017, the merged group grew was sold to Astorg, a European private equity firm. Astorg’s investment into the group, allowed James Gordon, CEO of Audiotonix, to look at further opportunities.
Audiotonix solutions from those premium audio brands are used extensively in live sound, broadcast, theatre production, installations, house of worship and recording studios. All markets where they were competing directly with Solid State Logic, especially since the launch of the very successful SSL Live console series. Yet, the famous Oxford-based brand leads the music recording studio and post production markets by a wide margin.
Explaining the reasoning for the acquisition, James Gordon comments: “We are growing the Audiotonix Group with professional audio brands that have exceptional technology, committed people and a real passion for what they do. With their incredible history and reputation, their enthusiasm and loyal customer base, SSL is ideally placed to be the next partner in the group. The whole group will benefit by having SSL as an integral part of the team going forward. Having their help to further expand our international reach, technology and customer base will be a lot of fun.”
Antony David, MD of Solid State Logic, added: “I am very proud of the achievements our team have made to date with the expansion of SSL. To reach our full potential we need the support and resources of a larger group to help us achieve our aspirations. In Audiotonix we have found a partner that is as fiercely obsessed about audio, products and customer service as we are. Audiotonix’ success in investing in and nurturing similar audio focused businesses was crucial to us. Once we got talking, we quickly discovered that this was something we both wanted to happen.”
Peter Gabriel, the majority shareholder in Solid State Logic, becomes an investor in Audiotonix as part of the transaction. He added, “My relationship with SSL began as a user, a customer and then as part owner. SSL has always made wonderful innovative equipment that encourages creativity and I got involved because I never wanted to imagine a world without SSL. It is obvious with this sale that there are many in this growing Audiotonix group that are as nuts about new tech and good audio as we are. Each manufacturer has their own particular markets, strengths and idiosyncrasies but through collaboration, there will be a lot of opportunities to spread knowledge and skills to benefit the group as a whole. I am also excited by what could be created by all these new potential synergies so I have chosen to use a chunk of the sale money to invest in this newly expanded version of Audiotonix. I wish Audiotonix and all who now sail in her, every success.”
www.solidstatelogic.com | www.audiotonix.com
