Apparently a lot has been happening at Bose over the last several months, now culminating in the surprising decision to sell Bose Professional, separating it from Bose Corporation. Bose Professional — as a new company — is expected to be announced officially later in the week.
For more than 50 years, Bose Professional has developed audio systems that are easy to design, install and operate for performance, commercial and conferencing applications, and has worked with AV integrators, system designers, installers and consultants to deliver these unforgettable audio experiences. Today, its systems can be heard worldwide – in workplaces, houses of worship, universities, restaurants, retail stores, hotels, performing arts centers, stadiums and more.
"We’re proud of what Bose Professional has accomplished – its legacy in the professional AV market and the diverse list of amazing installations it has completed all over the globe,” said Lila Snyder, CEO of Bose Corporation. “The sale to Transom will provide Bose Professional the additional attention it needs to support the professional audio customer, and to continue to develop products and technologies that stand out in the industry. It will also allow Bose to focus more deeply on our core business – creating amazing audio experiences for on-the-go, at home and in the car.”
“Bose Professional’s tenure in the professional audio business, its standout product portfolio and customers, as well as its team dedicated to researching, engineering and delivering new and innovative products, made it a compelling business for us to bring into our portfolio,” said Russ Roenick, Founder and Managing Partner at Transom. “We are working closely with Bose to ensure business continuity for Bose Professional going forward, and we look forward to continued success for the business as an independent company.”
“We’re excited about the new opportunities this will enable us to explore,” said Michael Bennett, CEO of Bose Professional. “Our customers are the key reason we develop systems that are easy to design, easy to install and easy to operate. As the pro-AV industry continues to evolve, our focus is on ways to help our customers be more successful and clear the path to great sound.”
Progress Partners acted as Bose’s exclusive financial advisor in connection with the sale. Additional information, including financial and other terms of the transaction, will remain confidential.
As a sign of this new focus and attention, Bose Professional announced the appointment of Mark Ureda to the company’s Board of Directors. Ureda’s nearly four decades of experience across a variety of strategic leadership roles include Senior Vice President of Harman International, Vice President of JBL, and Vice President of Corporate Strategy and Technology at Northrup Grumman. As business advisor, Ureda will enrich the already extensive professional audio experience currently seen in Bose Professional’s leadership team.
Transom is an operations-focused private equity firm in the middle market with a deep track record of successfully executing corporate divestitures. The firm’s functional pattern recognition, access to capital, and ARMORSM Value Creation Process combine with management’s industry expertise to create improved operational efficiency, significant top-line growth, cultural transformation and overall distinctive outcomes. Transom is headquartered in Los Angeles, California.
For more than 50 years, the Bose Professional business has developed audio systems for performance, commercial and conferencing applications. Working in partnership with AV integrators, system designers, installers and consultants, Bose Professional engineers and develops audio solutions for the workplace, houses of worship, universities, restaurants, retail stores, hotels, performing arts centers, stadiums and more.
www.pro.bose.com
