MARTIN AUDIO TO BE PART OF LOUD GROUP
It was announced today that LOUD Technologies of the USA has entered into an agreement to purchase the entire share capital of Martin Audio Limited of the UK.
David Bissett-Powell, Managing Director of Martin Audio commented 'We are excited about becoming part of the LOUD Group of Companies. Over the last few years we have built an incredibly strong and dedicated team of professionals and their knowledge of our industry is second to none. Our worldwide distribution partners have also become a strong part of this team and in order to utilise these talents and benefits to their maximum potential we need to have access to a wider base of technologies and for this reason have been looking at potential partners for some time. Ours is one of the few mature industries that has no dominant player. Even the largest has only a single digit percentage of the business so there is still a lot to play for. It seems apparent, however, that to be a small independent is becoming tougher on the world stage. Customers are seeking more of an integrated approach and the merging of technologies is inevitable. We recognise the need for multiple disciplines and by becoming part of LOUD we immediately have access to further resources, both technical and financial, to assist our team in reaching their goals.'
Jamie Engen, CEO of LOUD said 'We are delighted to have David and his team become part of the LOUD Group. The management at Martin Audio have a proven track record of success in developing premium and innovative products along with an excellent International Distribution network. These core strengths will be a great asset to the further developments of our existing brands. Similarly, our commanding position within the USA Pro Audio market can be a great source of knowledge to support the current Martin Audio North American team. 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.'