Consolidation in the broadcast equipment space continues with the announcement that London-based private equity firm Electra Parnters will acquire Calrec Audio, a major supplier of professional audio gear.
Terms of the deal were not disclosed.
Calrec, which is celebrating its 50th anniversary this year, will become a sister company to Allen & Heath, which Electra acquired last year.
"When we made our initial investment in the professional audio sector by supporting the buyout of Allen & Heath, Electra provided all of the new financing to ensure flexibility with respect to further acquisitions in the sector," said Alex Fortescue, chief investment partner of Electra Partners. "The acquisition of Calrec shows the benefits of this approach, and both companies are well-placed to accelerate growth as a result." In another statement, Calrec managing director Roger Henderson noted that the deal would allow them to “continue to develop our business into more international markets.”
Henderson also said that “Calrec has experienced rapid growth over the past few years” and has “a very healthy product portfolio” that they plan to continue to develop by working with Electra Partners so they can “continue to break new technological boundaries."