British turntable and tonearm manufacturer SME has been bought by hi-fi manufacturer Cadence Group.
Cadence already has major controlling interests in other audio brands such as UK-based Spendor Audio Systems and Netherlands-based Siltech Audio and Crystal Cables.
The company said it will bring a “new level” of investment to SME, which will allow it to extend its research and development activities.
SME’s design and manufacturing expertise has even been sought after by many precision engineering disciplines including Formula 1 and Aerospace.
SME’s newly appointed chief executive, Stuart McNeilis, said: “SME is the most iconic name in tonearm and turntable engineering and epitomises the very best of British engineering. Combining innovation with meticulous manufacturing and attention to detail has made SME a market leader for decades. With increased investment allowing for new product development, the company will build on its legacy of designing and manufacturing the best tonearms and turntables in the world.”
SME has also recently appointed Padood, a high-end audio distributor, to look after all sales and marketing activities in the UK and Ireland.
McNeilis added: “We are delighted to announce this new partnership with Padood, one of the leading distributors of high-end audio in the UK. Together, we aim to grow awareness of the SME brand and its products to both traditional audiophiles and a new generation of music-loving enthusiasts.”