London, UK (August 1, 2014)—Electra Partners has invested in DiGiCo, forming a new pro audio group with Allen & Heath and Calrec, two other UK-based console manufacturers owned by the private equity firm.
In the works for the last 18 months, the deal sees DiGiCo’s CEO, James Gordon, move to the new role of group CEO, where he will work alongside Malcolm Miller, the current chairman of Allen & Heath and Calrec, who now becomes Chairman for the group. Charles Elkington, Ian Wood and Shakira Adigun-Boaye are responsible for the investments in Allen & Heath, Calrec and DiGiCo. Charles and Ian will represent Electra Partners on the Board of the company.
Gordon told Pro Sound News
that existing customers should expect a smooth continuance of existing infrastructure for sales and service, remarking, “These are three great brands that all have very successful business relations in US. Each brand will maintain its own identity and the focused and dedicate sales teams are crucial."
That holds for outside the U.S. as well, as all three companies will retain and emphasize their individual brand identities worldwide. That said, a strategy is in place for the three console manufacturers to share technology and resources across the group and allow some interconnectivity across product lines.
Working together to make the deal happen, Electra Partners and ISIS Equity Partners pooled resources, resulting in what is a partial exit for ISIS from its ownership of DiGiCo, as it retains a minority stake in the new deal. ISIS originally invested in DiGiCo in December 2011 in a £50m management buyout.
Glenn Rogers, managing director of Allen & Heath, noted in a statement, “The creation of the group with DiGiCo and their management is an impressive combination. It will certainly add new momentum to what Allen & Heath and Calrec had already planned for the future.”
Henry Goodman, Calrec’s Sales and Marketing Director, also stated, “This exciting formation gives Calrec new opportunities for swifter development of a host of ideas we have been wanting to bring to the market. We will have a vast pool of engineers to share new ideas for the industry and target them specifically to each brand’s needs. Customers can expect us to maintain and in some areas improve our very high levels of support and service.”