The D+M Group, owner of AV brands Denon, Marantz and Boston Acoustics, has been acquired by Sound United – parent company of US hi-fi brands Polk Audio and Definitive Technology – for an undisclosed sum.
Sound United is the largest supplier of loudspeakers in North America and also has soundbars and wireless music systems in its portfolio. The combined company will be known as Sound United.
In a statement issued today (March 1), Sound United said it had completed the acquisition of the D+M Group – the world’s largest supplier of AV receivers – and a leader in wireless multi-room audio.
Sound United is a division of DEI Holdings, a portfolio company of Boston-based private equity firm Charlesbank Capital Partners. Charlesbank acquired DEI Holdings in 2011.
Kevin Duffy, chief executive of Sound United, will serve as CEO of the combined company. Commenting on the acquisition, Mr Duffy said: “Sound United and the D+M Group employees share a culture of innovation and customer focus. We plan to leverage those core values in the combined company in order to offer consumers and our channel partners a breadth of complementary products, while expanding our investments in technology development and marketing.
“We welcome the addition of the D+M team and are excited to work together to ensure that this strategic combination capitalises on its global leadership position, while also ensuring that each of our individual brands continues to be highly differentiated in the marketplace. Our existing customers and channel partners will benefit from the enhanced breadth and depth of the combined product portfolio, while our strategic suppliers should be well-positioned to expand with us as we grow.”
D+M Group chief executive Jim Caudill, who will continue as an adviser to the consolidated company, added: “This transaction is a testament to D+M Group’s employees and exceptional brands and all that we’ve accomplished in the audio industry. By joining Sound United, we expect to deliver tremendous value to our customers through access to Sound United’s aspirational speaker brands including Polk Audio and Definitive Technology. We believe that this transaction will drive compelling opportunities for our employees, customers, and suppliers, and are looking forward to ensuring the success of the new organisation.”
- Pictured top, Denon AH-D7200 headphones