Tokyo, Japan (June 25, 2008)–Bain Capital Partners LLC will launch a tender offer for all of the shares of D&M Holdings, the global operating company that encompasses Denon, Marantz, McIntosh Laboratory, Boston Acoustics, Calrec Audio, Denon DJ, Snell Acoustics, Escient, Allen & Heath, D&M Professional and D&M Premium Sound Solutions.
D&M Holdings Inc. and Bain Capital Partners LLC announced that they have entered into an agreement, under which an acquisition corporation owned by investment funds advised by Bain Capital Partners LLC will launch a tender offer for all of the shares of D&M Holdings. Following the completion of the tender offer process, the shares of D&M Holdings would be delisted from the Tokyo Stock Exchange.
“After an exhaustive review of strategic options, we have determined that this offer from Bain Capital represents the best overall value for our shareholders. The next few years should be an exciting time for D&M as we enter another phase in our development,” said chairman and chief executive officer Eric C. Evans. “If Bain Capital acquires D&M through the tender offer, we believe we will be better positioned as a privately held company to be more flexible in the fast-paced changing markets in which we compete. We will also have wider latitude to invest for medium- and long-term growth.”
During the past six years, D&M Holdings has become a leading provider of products and solutions to the premium consumer and commercial audio-visual electronics markets. Through a series of successful acquisitions and integrations, D&M Holdings has built a global portfolio of premium brands and has established an efficiently managed, scalable, and integrated operating platform. Going forward, the company intends to continue its active pursuit of acquisitions and growth in the consumer, commercial and automotive audio video businesses.
D&M Holdings’ board of directors has agreed that the Bain Capital tender offer is in the best interests of the company. The board of directors will formally consider a resolution to recommend the tender offer to shareholders at the time the offer is launched.
D&M Holdings Inc.