COLUMBUS, OH--Live Technologies has reached an agreement with A & S Investment Group, LLC to support and facilitate future growth and development of the company. A&S has obtained majority ownership of Live Technologies.
A&S is a Columbus, Ohio based equity investment firm dedicated to identifying quality profitable businesses and assisting them in growing revenues, refining procedures, and building profitability for the shareholders and company associates. A&S is comprised of Larry Abbot and Mike Stoner, who will share their business expertise acquired over years of building successful companies, primarily in the foodservices industry.
Live Technologies traces its roots back to 1974 when Dave Mead formed Sound Advocate, providing audio services in the Central Ohio area. In 1979, present day owner Rusty Ranney formed his lighting company, Lighting Masters and partnered with Dave and Sound Advocate to offer the combined services for national touring accounts, and built a large festival, corporate, and concert clientele, thereby formalizing the partnership in 1988. Over the years, this partnership became an industry leader in event production services, and began to provide permanent audio/visual installation services in the mid-1990's. Video equipment rentals and digital media production were later added to the company's list of services.
Rusty Ranney will remain a principal shareholder and will continue to operate the company under the new title of President/CEO. Dave Mead, as a continued part of his succession and estate planning, is selling the majority of his stake but will retain an active role as the Business Development Associate. Other long-time shareholders Shawn Loevenguth, Steve Quinn, and Mark Merchant will continue their participation and are taking the opportunity to increase their stake in the company.
The current management group will continue as the active operating partners of the company, with the addition of Mike Stoner as the Chairman of the Board who will serve in an active board role. Additionally, the corporate structure of Live Technologies will change from a C-Corp to an LLC and will therefore drop the "Inc." from the corporate name (formerly Live Technologies, Inc.).