Woodinville, WA (March 8, 2005)–LOUD Technologies Inc. announced yesterday the acquisition of St. Louis Music Inc., a Missouri-based manufacturer, distributor and importer of branded musical instruments and professional audio products. As part of this acquisition, St. Louis Music will become an indirect wholly owned subsidiary of LOUD Technologies Inc.
Founded in 1922 by the Kornblum family, St. Louis Music’s products include world-renowned Ampeg bass guitar amplifiers, Crate amplifiers, Crate Audio sound reinforcement equipment, Alvarez guitars and string instruments, and Knilling orchestral string instruments. St. Louis Music is also a distributor of music accessories, offering retailers a complete line of branded accessory products.
“This acquisition demonstrates that Sun Capital Partners, our principal shareholder, is committed to the expansion of our portfolio into related markets,” commented LOUD’s CEO Jamie Engen. “St. Louis Music has an impressive and well-respected family of brands that open up a number of significant new opportunities for LOUD Technologies.”
Engen continued, “Both companies share a strong commitment to our customers and employees, as well as mutual respect for our unique corporate heritage. By combining our collective resources under one corporate umbrella-from technology and manufacturing, to engineering, product development and marketing-we will work together to bring even more innovative new products to our customers.”
St. Louis Music’s existing CEO Gene Kornblum will remain in his current position and will report directly to LOUD Technologies’ CEO Jamie Engen.
Gene Kornblum commented, “What attracted me to LOUD was their commitment to developing and nurturing strong brand names like Mackie and EAW. Through our mutual commitment to product design, creative marketing, as well as expansive sales and manufacturing resources, LOUD and St. Louis Music are going to make great contributions to the music industry.”
Ted Kornblum, who represents the third generation of St. Louis Music’s founding family, will assume the position of senior vice president of marketing and artist relations for St. Louis Music and will continue to manage these activities for the St. Louis Music family of brands, as well as help expand artist relations programs for the Mackie, TAPCO and EAW brands. William Blair and Company served as investment banker for St Louis Music on this transaction.