LONDON, UK—Electra Partners has invested in DiGiCo, with the intention of forming a new pro audio group with Allen & Heath and Calrec, two other UK-based console manufacturers owned by the private equity firm.
NUMBER ONE WITH A BEDROCK—30 years into his career, Weird Al Yankovic recently landed his first number one album on the Billboard chart with Mandatory Fun. Yankovic, seen here outside Bedrock.LA’s 12,000-square-foot mural with a Telefunken custom red, white and blue M80 dynamic microphone, recorded his album at the studio, based in the Echo Park neighborhood of L.A. “There is just nothing like the natural reverb in Echo Park,” he deadpanned. In the works for the last 18 months, the move 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, “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 dedicated 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.”