|Allen & Heath Managing Director Glenn Rogers.|
Penryn, Cornwall, UK (June 21, 2013)— Allen & Heath has been sold by D&M Holdings to Electra Private Equity PLC and Allen & Heath’s management for £43 million of equity and debt. Allen & Heath’s existing team and distribution networks will remain in place.
Founded in 1969, Allen & Heath designs and manufactures audio mixing consoles for live sound, such as concerts, theatres and houses of worship, having started out providing mixing consoles for the bands Genesis, The Who and Pink Floyd. Its current portfolio includes Adele, Frank Ocean, Morrissey, XFM, Capital Radio, Maracana Stadium in Brazil, Richie Hawtin, Pete Tong and Paul van Dyk.
Glenn Rogers, Managing Director at Allen & Heath, said: "We are very excited about working with Electra Partners and the opportunities it presents for the next phase of Allen & Heath’s growth. We have an excellent catalogue of existing products and a number of exciting prospects in development. We see opportunity for expansion into new areas and look forward to building Allen & Heath’s long-term future alongside Electra Partners."
Charles Elkington, Investment Partner at Electra Partners added, "Allen & Heath is a leader in a niche market with an excellent track record of year-on-year growth. We believe that the company has a bright future and we will be looking to work with Glenn Rogers and his team to grow the business through further investment in new product development, improved marketing and distribution, and through acquisition."
The company’s current products include the iLive and GLD digital mixing systems, Qu-16 rackmount digital mixer, iDR digital installation series, Xone DJ range, ZED compact mixers, XB series of dedicated broadcast consoles, GS-R24 and ZED-R16 recording mixers, ICE multi-track recorder, and the GL, MixWizard and PA analogue Series.
This is the fourth investment Electra Partners has announced this year, following the previously announced co-investment in CALA Group and the acquisitions of AXIO Data Group and the EP I Secondary Portfolio.
Allen & Heathwww.allen-heath.com