QSC, the Costa Mesa, Calif.-based leader in the design, engineering and manufacturing of audio, video and control solutions, just announced that they have reached a definitive agreement to be acquired by Acuity Brands, Inc (Acuity), a leading industrial technology company.
Acuity will acquire QSC for a purchase price of $1.215 billion, or $1.1 billion net of approximately $100 million in present value of expected tax benefits. The net purchase price represents approximately 14 times QSC’s estimated EBITDA for the last 12 months ending August 31, 2024, according to a statement.
“Bringing QSC together with Acuity underscores the critical role AV technology plays in live, hybrid, and virtual experiences,” says Joe Pham, chairman and CEO of QSC. He continues, “Our two organizations are aligned on a long-term mission and core values that drive our mutual passion for innovation, customer satisfaction, and employee well-being.”
QSC will become part of Acuity’s Intelligent Spaces Group to execute a joint vision of making spaces smarter, safer and greener with disruptive technologies that leverage data interoperability.
“From our roots in pro audio to our Q-SYS platform solutions, our talented teams are well-positioned to bring our mission to life for our customers, ecosystem partners, and our system integrators who serve them,” says Jatan Shah, president of QSC. “With Acuity’s Intelligent Spaces Group, our rich landscape of data will deliver dynamic and engaging experiences that captivate and inspire.”
The transaction is expected to close in the second quarter of fiscal 2025, subject to customary closing conditions, including, among others, the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended.
Morgan Stanley & Co. LLC is serving as the financial advisor to QSC, and Proskauer Rose LLP is providing external legal counsel.
Commercial Integrator will soon provide more information from the company as we continue to cover QSC and its acquisition by Acuity Brands in the weeks ahead. Stay tuned for updates as this story unfolds!
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