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Ardian Completes Audiotonix Acquisition

The nearly €1 billion deal to purchase a majority stake in pro-audio console conglomerate Audiotonix has been completed.

Investment group Ardian is purchasing a majority stake in Audiotonix, the parent company of Solid State Logic, Calrec, DiGiCo and Allen & Heath.New York, NY (March 23, 2020)—French private equity group Ardian has completed its acquisition of a majority stake in Audiotonix, parent company to the Solid State Logic, Calrec, DiGiCo and Allen & Heath console brands as well as immersive IEM tech developer KLANG Technologies and audio manufacturer DiGiGrid. The deal was first announced in mid-December, 2019 and was expected to close during the first quarter of 2020.

The deal puts an enterprise value on Audiotonix of close to €1 billion. Ardian purchased the controlling stake from Paris-based private investment group Astorg, which itself purchased Audiotonix—then consisting of DiGiCo, Calrec and Allen & Heath—in February, 2017 for approximately $254 million. Astorg will retain a minority interest going forward.

With offices in Paris, London, Frankfurt, Milan and Luxembourg, Astorg currently has €8.2 billion of assets under management, split between three funds. Macfarlanes advised the management team of Audiotonix on the deal, with a  team led by corporate and M&A partner Stephen Drewitt, alongside corporate and M&A partner Howard Corney, senior solicitor Julian Grant and solicitor Gruffudd Jones.

“We were very pleased to assist the management team of Audiotonix once again with this latest investment and look forward to seeing the business continue to go from strength to strength,” said Drewitt.

The Audiotonix purchase isn’t Ardian’s first foray into pro-audio waters. Among the roughly 150 companies Ardian is currently invested in is loudspeaker system manufacturer d&b audiotechnik, which it acquired in February, 2016 from investment companies Odewald & Compagnie and COBEPA, which in turn first acquired d&b in 2011.

Audiotonix •