The Directors of Martin Audio and TC Group are pleased to announce that on 13th August the Management Team of Martin Audio purchased the Company from the TC Group. The management buy-out was supported by ISIS Equity Partners plc and The Royal Bank of Scotland.
David Bissett-Powell, the MD of Martin Audio, stated: "The management of Martin Audio have long aspired to independence and are pleased that under the TC Group we have had the opportunity to attain this goal. Having established strong links within the Group we will continue to work closely with Lab Gruppen and other group companies and expect new co-operation with TC Applied Technologies regarding digital power, processing, and networking."
The CEO of TC Group, Anders Fauerskov, says: "Since the acquisition of TGI plc by TC Martin Audio has been a well-managed and strong performer and we wish the management all the best in the future. We expect the TC Group and Martin Audio will continue working closely together on products and technologies."
Following the transaction, TC Group will consist of Tannoy, LabGruppen, Goodmans Loudspeakers, TC Electronic, TC Works, TC Applied Technologies, and TC Helicon.