Electra Partners has acquired mixing console manufacturer Allen & Heath from D&M Holdings.
A total of GBP43m of equity and debt has been provided by Electra Private Equity and Allen & Heath’s management.
Founded in 1969, Allen & Heath designs and manufactures audio mixing consoles for live sound, such as concerts, theatres and houses of worship. Allen & Heath’s existing team and distribution networks will remain in place.
Alex Fortescue, chief investment partner at Electra Partners, says: "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 capitalise on both organic and acquisitive growth opportunities.”
Glenn Rogers, managing director at Allen & Heath, says: "We are very excited about working with Electra Partners and the opportunities it presents for the next phase of Allen & Heath’s growth. 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 were advised by Houlihan Lokey and Ropes & Gray International.
