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Fine Sounds Group Bought Out By Management
Interesting!
Mauro Grange, CEO of Fine Sounds SpA, and Charlie Randall, longtime President of McIntosh Laboratory, Inc., have announced their plans for a management buyout of Fine Sounds Group in partnership with LBO France and Yarpa: Mono and Stereo High-End Audio Magazine: Fine Sounds Group Bought Out By Management |
#2
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Very interesting. Thank you for posting.
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#3
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Huh. Not sure what I think about this. Maybe I'm worried for no good reason...?
I was very pleased with the direction Fine Sounds had taken Sonus Faber and ARC. |
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Has to be a good thing. Its two dedicated and passionate music and audio guys buying out a bunch of investment bankers who only care about the bottom line. Obviously both aspects of the business are important but i would rather own products driven by the engineers than the beancounters.
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#5
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Quote:
Basically all that has happened is Quadrivio has flipped its investment, presumably at a nice profit, and the new owners, LBO France/Yara/Grange/Randall will look to shepherd the company along it's next phase of development/growth and presumably in the next 4-7 years (typical holding period for a private equity firm), there will be another sale (what is termed in the private equity industry an "exit.") For Fine Sounds, they now have new owners, with potentially deeper financial pockets supporting any growth investment capital, to continue growing this platform. |
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Quote:
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#7
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Thanks for the clarification. Didnt realize it was just swapping one equity firm for another but i should have. Sounds like it might be a positive step though based on your final conclusions. Lets hope so.
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