LOUD LETS MARTIN AUDIO GO HOME
Martin Audio, the company originally started by Aussie engineer, Dave Martin, back in 1971, is back in the hands of its management. Loud Audio, the parent company of brands like Mackie and EAW, has decided to sell Martin Audio. It agreed to a management buyout led by Managing Director, Dom Harter, with the backing of LDC (a private equity arm of Lloyds Banking Group). The Pro Audio/AV manufacturer has been headquartered in Buckinghamshire, UK, for quite some time, with a £20m annual turnover and staff of 60. It fits LDC’s MO, which is to invest in mid-sized UK-based companies. Frankly, the whole deal makes a lot of sense, especially given the coverage Loud already has in the speaker market with EAW and Mackie.
Martin Audio has a long history of excellence, everything from touring systems for Pink Floyd in the early years to covering festivals like London’s British Summertime Festival and Hyde Park, and the monstrous Rock in Rio. The installation business has also been booming, covering venues from super-club Ministry of Sound to delicate architectural installs.
Dom Harter is bullish about the new phase of the company’s journey, saying it needed a “growth-focused partner like LDC and the team has demonstrated a shared vision for the business from the outset. Our focus is now on developing our product line even further, and ensuring we have a rock-solid infrastructure in place to extend our global reach and drive market share.”
Locally, Technical Audio Group has been the long-time distributor of Martin Audio, bringing the technology to major venues all around Australia. Technical Director Tony Russo couldn’t be more pleased by the news: “Martin was quite a valuable profit centre for Loud so it would have come at a premium. There is quite an exciting team at Martin Audio in management with some of the best brains in the audio industry, such as Ambrose Thompson and Jason Baird. Martin will have more capital available to invest in some cutting-edge products they’ve been working on for years, but have been hamstrung by Loud’s bean counters. We at TAG are very excited about the future of Martin Audio and love that it’s 100 per cent back in UK hands.”
TAG: (02) 9519 0900 or firstname.lastname@example.org
To read the original press release from LOUD Audio, click here.