Complementary product lines strengthens group offering
Berlin: July 5 2022 – German studio specialist Neumann.Berlin and Swiss company Merging Technologies – one of the world’s leading manufacturers of high-resolution digital audio recording systems – will now be working together under the umbrella of the Sennheiser group. Sennheiser has taken over the shares of Merging technology entirely. With this step, Neumann.Berlin will enlarge its range of high-quality audio solutions.
With its legendary microphones, monitors, and headphones, Neumann.Berlin is regarded worldwide as a reference not only by professional users – such as recording studios and broadcasters – but also by semi-professional customers. Neumann solutions stand not only for reliability and lasting value, but also for the ultimate in sound quality. Neumann is continuing to build on this strong position and is now strategically expanding its product range. The integration with Merging Technologies is part of Neumann’s growth strategy. “We plan to strengthen Neumann’s offering, particularly in the area of digital workstreams, in order to provide our customers with holistic audio solutions in studio quality. Merging Technologies’ products and solutions are an excellent complement to the Neumann product portfolio. We are therefore very much looking forward to working together with the Merging team,” says Ralf Oehl, CEO of Georg Neumann GmbH. Merging Technologies is one of the world’s leading suppliers of AD/DA solutions, digital audio workstations, as well as a pioneer in software development to support the AES-67 standard.
“Neumann.Berlin and Merging Technologies are a perfect match, and the collaboration opens up new opportunities for both parties,” adds Claude Cellier, founder and CEO of Merging Technologies. “Both companies share a passion for excellence and a commitment to always set new standards in audio.” The existing portfolio of the two companies will remain unchanged. The first joint product of the partnership between Neumann.Berlin and Merging Technologies will be a Neumann audio interface that enables the perfect integration of Neumann products into a digital infrastructure.
With the takeover, Merging Technologies will become part of the Sennheiser Group through the strategic partnership. Its team of around 20 people will continue to be located at the company’s site in Puidoux, Switzerland, but will work closely with the Neumann team in Berlin; the two companies see great potential for new joint collaborations, particularly in the area of development and innovation. “We are very pleased to welcome Merging’s employees as part of the Sennheiser Group,” said Andreas Sennheiser, co-CEO of the Sennheiser Group. “As a family-owned company, we want to grow sustainably on the strength of our own resources in the coming years. To achieve this, we are investing significantly in our professional business.” Both sides have agreed not to disclose financial details.
• 1.6KVA power transformer for the output stage (50% more than M300) • Over 300,000uF capacitance for power supply (Double M300) • Tube rectifier for improved sonic performance • 50% more output MOSFETS for improved damping factor. • Bus bars on output MOSFETS for best power delivery • Separate transformer and power supply for tube gain stage • P20 chassis for better cooling and higher class A bias • Microprocessor monitoring of power supplies and bias levels • 110 pounds guaranteed to stay put during F3 tornado
Highlander Partners Announces the Acquisition of McIntosh Group, the Leader in Premium Consumer Audio Technology
McIntosh Group will serve as anchor for new Highlander luxury technology platform
June 15, 2022 – Dallas, TX – Highlander Partners, L.P. (“Highlander”), a leading private investment firm, today announced the acquisition of McIntosh Group, through a newly-formed holding company (“the Group” or “the Company”). McIntosh Group has been a leader and innovator in the high-end audio category for decades and today manufactures and globally distributes the world’s finest amplifiers, speakers, turntables and other audio products under several renowned brands. The Company is driven by its dedication to quality performance, sophisticated technology, refined design, and artisan manufacturing. These tenets have resulted in brands known for incomparable design, product quality and consumer experiences.
The Group is anchored by the legendary McIntosh brand. Since 1949, McIntosh amplifiers have been engineered and handcrafted in Binghamton, New York and have undergone an incredible history, having powered events ranging from presidential inaugurations to Woodstock ‘69. McIntosh amps are globally renowned both for their iconic signature design – classic tubes, knobs and the beloved blue metered faceplate – as well as their unparalleled, powerful audio quality.
The Group also features Sonus Faber, a luxury designer and manufacturer of premium speakers. Based in Vicenza, Italy, the brand’s heritage centers around its artisans’ craftsmanship, which leads to the creation of the most world’s most elegant audio products. Sonus Faber offers a range of products spanning from masterfully designed loudspeakers to custom installed solutions and cutting-edge wireless streaming speakers. Like McIntosh, Sonus Faber blends design and innovation to create superior technological products that are also works of art, revered by audiophiles and design-minded consumers alike.
In addition, McIntosh Group provides fully integrated distribution services across North America, Central and South America, the United Kingdom, and Benelux for their owned brands as well as several third-party brands including Pro-Ject (premium turntables), Rotel (premium amplifiers and electronics), and Bassocontinuo (Italian-crafted audio racks). The Group also boasts a thriving automotive entertainment business, providing audio technology for select premium models, including the Grand Wagoneer and Jeep Grand Cherokee L under the McIntosh brand and the Maserati Grecale and MC20 under Sonus Faber.
Jeff L. Hull, Highlander Partners President and CEO commented, “We have been evolving our investment strategy around consumer-focused brands and luxury goods over several years. The opportunity to acquire brands as strong as those within the McIntosh Group does not come often and we are very excited to be part of the Company’s next chapter. We believe there is a unique opportunity to acquire other consumer luxury technology brands and intend to stay active in the category.”
Jeff Poggi and Charles Randall, co-CEOs of the McIntosh Group commented, “We are thrilled to continue to pursue our growth trajectory alongside the Highlander team. Across all brands and product categories we continue to see remarkable results and an excess of opportunity; we believe Highlander’s financial approach and operational expertise can help seize these prospects.”
Ben Slater, Partner at Highlander added, “McIntosh Group sits at the intersection of several strong trends that we are eager to be a part of. The residential environment is rapidly evolving, with technology becoming an integral component throughout the home. Moreover, consumers across the demographic spectrum are demanding high fidelity audio now more than ever, and premium brands such as McIntosh and Sonus Faber are increasingly viewed as functional pieces of art.”
Lincoln International LLC acted as financial advisor, and Shearman & Sterling LLP served as legal counsel for the McIntosh Group. Highlander Partners was represented by Katten Muchin Rosenman LLP as legal counsel.
About McIntosh Group
McIntosh Group is a leading designer, manufacturer, and marketer of high-end home audio equipment worldwide. The Company offers a broad suite of premium audio products across multiple brands, catering to a highly loyal base of audio enthusiasts and music lovers. The common denominator of all the McIntosh Group brands is the goal of bringing sound to life through quality products built to perform. McIntosh Group strives to ensure the long-term development of each of its brands in keeping with their identity, their heritage, and their expertise. For more information, visit www.www.mcintoshgroup.com.
About Highlander Partners
Highlander Partners, L.P. is a Dallas-based private investment firm with over $2 billion of assets under management. The firm focuses on making investments in businesses in targeted industries in which the principals of the firm have significant operating and investing experience, including basic manufacturing, food, chemicals, consumer products, and others. Highlander Partners uses a buy and build investment approach, creating value by helping companies grow both organically and through acquisitions. For more information, visit www.highlander-partners.com.
Highlander Partnersの社長兼CEOであるJeff L. Hullは、「我々は数年前から、消費者向けブランドや高級品を中心に投資戦略を進化させてきました。マッキントッシュ・グループのような強力なブランドを買収する機会は滅多になく、同社の次の章の一翼を担えることを非常に喜ばしく思っています。我々は、他の消費者向け高級技術ブランドを買収するユニークな機会があると信じており、このカテゴリーに積極的に取り組んでいくつもりです。”
McIntosh Group の共同 CEO である Jeff Poggi と Charles Randall は、「Highlander のチームと一緒に成長軌道を追求し続けられることに感激しています。ハイランダーの財務的アプローチと事業運営に関する専門知識は、これらの展望をつかむのに役立つと信じています。” と述べています。
Highlander 社のパートナーである Ben Slater 氏は、「McIntosh グループは、いくつかの強いトレンドの交差点に位置しており、我々はその一端を担うことを切望しています。住宅環境は急速に進化しており、テクノロジーは家庭全体に不可欠な要素となっています。さらに、あらゆる層の消費者がこれまで以上にハイファイオーディオを求めるようになり、McIntoshやSonus Faberといった高級ブランドは、機能的な芸術品としてみなされるようになっています。”
Lincoln International LLCが財務アドバイザーを務め、Shearman & Sterling LLPがマッキントッシュ・グループの法律顧問を務めました。Highlander Partnersは、Katten Muchin Rosenman LLPが法律顧問として代理を務めました。
