NEW YORK, NY-Loud Technologies has purchased U.K. loudspeaker manufacturer Martin Audio. The 35-year-old company is distributed internationally to 50 territories and employs about 60 people at its head office in High Wycombe, U.K. While the company will change hands, all involved insist that will be the only alteration.
"Our view is everything is just 'business as usual,'" said Rob Hofkamp, director of North American operations for Martin Audio. "We are still 100 percent owned by Martin Audio in the U.K., which is now 100 percent owned by Loud-we report to David Bissett-Powell and the management team in the U.K., and they, in turn, are part of the Loud Group of companies.
"I really believe that this is a positive thing with Martin being in the U.K.; there's a history to the name, a pedigree in it, and they have a good business model that we will continue to build upon," Hofkamp continued. "What it comes down to is that Martin needs access to more resources in order to continue to grow at the rate enjoyed over the last 10 years, and becoming part of Loud will allow that to happen. Martin also has some unique engineering and market skills that can strongly benefit other parts of the Loud organization."
Loud CEO Jamie Engen said in a statement, "[Martin Audio's] core strengths will be a great asset to the further developments of our existing brands. It is envisaged that Martin Audio will remain an independent brand within the group; however, we expect there to be synergies that can be exploited to the mutual benefit of all our customers and our newly expanded group."
"This industry's development is an evolutionary process, and it's obvious that Loud has looked at Martin Audio carefully and has decided this is a good company to own," Hofkamp added. "Similarly, the company has looked at where it should align itself for the future and has chosen Loud."