The U.K.-based private equity investor LDC has backed a Martin Audio Management Buyout (MBO) to help the audio system company further develop its range of products.
Lloyds Banking Group’s private equity arm has invested more than $15.7 million U.S. to gain a major portion of Martin Audio, and in addition to aiding the speaker manufacturer’s research & development (R&D) efforts, the move will benefit Martin Audio’s sales, marketing and digital infrastructure.
“The next phase of our journey needs a growth-focused investment partner like LDC and the team has demonstrated a shared vision for the business from the outset. Our focus is now on developing our product line even further and ensuring we have a rock solid infrastructure in place to extend our global reach and drive market share,” says Dom Harter, managing director, Martin Audio.
“Our success to date has been underpinned by providing equipment of the utmost quality to help deliver an unforgettable listening experience to people across the globe. Being a trusted brand and operating in a growing market means the time is right for us to fast track the growth of the business.”
What’s Martin Audio Doing Now?
Founded in the 1970s by sound engineer Dave Martin, Martin Audio currently employees more than 60 people and it produces an approximate yearly turnover of $26 million USD.
According to the British audio manufacturer, its products can be seen on the road at festivals that include the British Summertime Festival at Hyde Park and Rock in Rio, which are both using Martin Audio MLA series products.
Related: Martin Audio Offers Solution to Keep Big Ben Chiming
“Martin Audio has been on a fascinating growth journey since Dom joined. The business has a world-class brand, [a] history of innovative products and a management team with the ambition to build on a solid foundation to accelerate its expansion,” adds Troy Harris-Speid, investment director, LDC London.
“Our investment and support will provide a step change for the business—injecting capital into key growth areas and bringing on board additional expertise to help guide its strategy.”
Learn more about Martin Audio here.
