Sound United LLC has let us know that it has completed its acquisition of Bowers & Wilkins. The big company already bought Classé and tried to work with Onkyo in the past. The big British B&W and Sound United agreed on the co-operation.
Sound United completed the previously announced Bowers & Wilkins acquisition today as expected. The company announced this to the world through the following fully acquired press release.
“The acquisition of Bowers & Wilkins allows us to combine the company’s leading expertise in acoustic design, engineering and manufacturing, with Sound United’s scale, technical insight and consumer reach. This will ensure that Bowers & Wilkins has a bright future,” said Kevin Duffy, CEO of Sound United. “Sound United has a strong track record of protecting the unique identity and core competencies of each of its brands – that will be no different at Bowers & Wilkins. We are confident that our entire portfolio will benefit from the addition of Bowers & Wilkins. It will translate into new products, technologies and opportunities for our consumers, distributors, dealers and audio enthusiasts around the world”
Geoff Edwards will ensure continuity as President of the Bowers & Wilkins brand at Sound United. The acquisition includes all Bowers & Wilkins’ global distribution and licensing agreements with third parties, including Bowers & Wilkins’ premium audio products currently being sold. By investing in other brands, Sound United will be able to innovate more effectively in product categories, functionalities and consumer sectors. Sound United is on track to support the development of new Bowers & Wilkins products and to maintain the brand’s position in the premium consumer audio market.
“This acquisition heralds a new era for Bowers & Wilkins and offers a new opportunity to focus on what we do best: building the best loudspeakers on the market,” said Geoff Edwards, CEO of Bowers & Wilkins. “We look forward to merging our organisations and becoming part of the industry’s strongest portfolio of premium audio brands
Sound United is a portfolio company of Boston-based private equity firm Charlesbank Capital Partners, LLC Houlihan Lokey was previously the exclusive financial advisor to Bowers & Wilkins.