Westlake Village, CA (July 23, 2013)—Blue Microphones has been acquired by global private equity firm The Riverside Company. Purchased for an undisclosed amount, the pro audio manufacturer stated aggressive growth plans would be a part of its future, but added that no changes are planned in Blue’s team.
Hillary Money, Blue's PR manager, told Pro Sound News, “This will not affect any upcoming product schedules. At the same time, the investment by The Riverside Company gives us resources to pump up the areas where we are already thriving, like product development.”
Previously, Blue was owned by another private equity firm, Transom Capital, and had been actively involved in seeking a new investment company since the beginning of 2013. Founded in 1988, The Riverside Company currently owns more than 75 companies internationally and has been involved in more than 310 transactions.
At present, Blue Microphones manufactures 31 different products for pro and consumer audio markets, ranging from USB mics to studio-level gear to microphones for iOS devices. Signaling where much of Blue’s future may lie, Riverside noted “Blue is poised for steady growth in the global digital microphone market, driven by Skype and consumer-created media.”
In the statement, Blue Microphones CEO John Maier noted, “Over the past five years, Blue Microphones has launched a whirlwind of innovative new products and expanded distribution globally. Looking forward, Riverside is the ideal partner for Blue to achieve our ambitious expansion goals, both internationally and into new market segments, and I could not be happier to be joining such an accomplished team.”
“Blue has achieved rapid growth in revenue and market share, and we expect to be able to accelerate that growth,” added Riverside Principal Brian Sauer in the statement. “The company has a solid management team and a track record of quality and innovation. We’re looking forward to recording the next chapter in their successful history.”
The Riverside Company