Electra Partners has acquired mixing console manufacturer, Allen & Heath, from D&M Holdings.
£43 million of equity and debt has been provided by Electra Private Equity and Allen & Heath’s management.
Allen & Heath designs and manufactures audio mixing consoles for live sound, such as concerts, theaters, and houses of worship. Allen & Heath’s existing team and distribution networks will still remain in place.
"The ability to invest across the capital structure, in this case funding both the equity and debt instruments, is a great example of Electra’s flexible investment mandate being put to work to ensure a swift completion for the vendor and a straightforward structure for the business to capitalize on both organic and acquisitive growth opportunities,” chief investment partner, Electra Partners, Alex Fortescue said.
"Allen & Heath is a leader in a niche market with an excellent track record of year-on-year growth," said investment partner, Electra Partners, Charles Elkington. "We believe that the company has a bright future and we will be looking to work with Glenn Rogers and his team to grow the business through further investment in new product development, improved marketing and distribution, and through acquisition."
"We are very excited about working with Electra Partners and the opportunities it presents for the next phase of Allen & Heath’s growth," managing director, Allen & Heath, Glenn Rodgers said. "We have an excellent catalogue of existing products and a number of exciting prospects in development. We see opportunity for expansion into new areas and look forward to building Allen & Heath’s long-term future alongside Electra Partners."
The Electra Partners deal team for this transaction included Charles Elkington, Ian Wood, and Shakira Adigun-Boaye.
This is the fourth investment Electra Partners has announced this year, following the previously announced co-investment in CALA Group, and the acquisitions of AXIO Data Group and the EP I Secondary Portfolio.
Electra Partners was advised by Taylor Wessing, Allen & Heath, and D&M Holdings was advised by Houlihan Lokey and Ropes & Gray International.