Electra Partners has acquired audio mixing console manufacturer Calrec for USD 23m. Financing for the deal was provided in full by Electra Private Equity PLC (“Electra”) through a mixture of equity and debt. Calrec will become a sister company to Allen & Heath, which Electra acquired in June 2013. Allen & Heath’s existing Chairman Malcolm […]
Electra Partners has acquired audio mixing console manufacturer Calrec for USD 23m. Financing for the deal was provided in full by Electra Private Equity PLC (“Electra”) through a mixture of equity and debt. Calrec will become a sister company to Allen & Heath, which Electra acquired in June 2013. Allen & Heath’s existing Chairman Malcolm Miller will work with both companies.
Alex Fortescue, Chief Investment Partner of Electra Partners, said: “Our initial investment in the professional audio sector was the buyout of Allen & Heath in 2013, for which Electra provided all of the new financing to ensure flexibility in respect of further acquisitions in the sector. The acquisition of Calrec now shows the benefits of this approach and both companies are well placed to accelerate growth as a result.”
Charles Elkington, Investment Partner at Electra Partners added: “We are delighted to have funded the acquisition of Calrec. Part of our investment strategy when investing in Allen & Heath was to acquire additional businesses in the audio sector in order to create a group of market leading professional audio mixing brands. We look forward to working with Roger Henderson and his team to continue to invest in developing new products for Calrec’s customers.”
This is the third investment Electra Partners has announced this year, following the $140m investment in Hotter Shoes in January 2014 and the $136 m commitment to invest in Ogier Fiduciary Services in February 2014.
Electra Partners refers to Electra Partners LLP acting on behalf of its client Electra Private Equity PLC.
