Private equity firm PAI Partners and Ardian (a world-leading investment house) have agreed on a deal for Audiotonix, a global leader in the professional audio mixing console and ancillary products market. Upon the deal’s completion, PAI will acquire a majority stake and become the largest shareholder in Audiotonix, with Ardian retaining a minority stake alongside management.
Audiotonix is now well established within the audio mixing console market and other attractive audio segments with its leading portfolio of renowned brands, including Allen & Heath, DiGiCo, Calrec, Solid State Logic, Sound Devices, Slate Digital, and sonible, which is used by high-specification professional end-users and sound engineers globally.
Backed by a talented management team with an outstanding track record, Audiotonix distributes its products through an international network of over 400 value-added distributors and partners in more than 90 countries worldwide, with a sizable footprint in North America.
Ardian bought Audiotonix in March 2020. Despite pandemic restrictions, the group has continued to expand organically under Ardian’s ownership. During that time, the group secured five strategic acquisitions to diversify its portfolio further and developed new market-leading products increased its focus on software and reinforced the management team.
PAI’s investment will continue to strengthen the group’s R&D capabilities, foster brand synergies, drive organic growth, and pursue strategic M&A opportunities across the audio ecosystem.
Ardian was advised by Goldman Sachs, Allen & Overy, McKinsey and PwC. PAI was advised by Weil Gotshal & Manges, McKinsey and Alvarez & Marsal. And Audiotonix was advised by Liberty Corporate Finance, Macfarlanes and PwC.
KEY QUOTES:
“I would like to thank Ardian for the confidence and solid support of Audiotonix, the management team and our staff. The team invested alongside us just as the Covid lockdown began, and from our first meeting were aligned with us, making sure Audiotonix emerged in a stronger position than before. As management, the most critical challenge with a process like this is selecting the right partner moving forward, who understands what the business is today and can get behind the vision of what it can become. With PAI, it is clear this is a team and partner we can take Audiotonix to the next level with, while preserving the passion and energy that have made the group the success it has become in our industry.”
– James Gordon, CEO, Audiotonix
“There has been a revolution in the way people enjoy and appreciate all forms of entertainment. When we first invested, we believed the team at Audiotonix were best placed to become a global leader in audio technology. We backed management to invest and build out an R&D team larger than any competitor and one that has consistently delivered technically and commercially outstanding products. We have also supported the business in expanding into software via M&A. Today, Audiotonix is undoubtedly the leading player in a market where we see long-term tailwinds. We want to thank the management team, led by James Gordon, for their exceptional performance, resilience and quick thinking. Audiotonix still has tremendous potential to grow in an evolving global market with the support of PAI.”
– Olivier Personnaz, Head of Buyout UK & Managing Director, Ardian
“We are delighted to partner with James Gordon and the exceptional Audiotonix management team, alongside Ardian, in this next chapter of growth. Audiotonix is well placed to benefit from positive structural tailwinds in the experience economy and diverse professional audio environments – whether in live entertainment, installed professional audio, music or sports. We look forward to working with the team as the group continues to deliver market-leading, professional products, defining audio experiences worldwide.”
Colm O’Sullivan and Neil McIlroy, both partners at PAI
