Late last night, unexpected news came through that Sound United LLC, the parent company behind Denon, Polk Audio, Marantz, Definitive Technology, HEOS, Classé, and Boston Acoustics, has entered into a preliminary letter of intent to acquire the classic British loudspeaker brand Bowers & Wilkins.
Speaking last night about the unexpected move, Kevin Duffy, CEO at Sound United said: “Over the course of five decades Bowers & Wilkins built one of the most prestigious brands in the global speaker market with industry-leading acoustical engineering, iconic design and marketing. B&W is a transformative brand and we look forward to the opportunity to finalize the transaction. This reflects Sound United’s unwavering focus to achieve its mission of bringing joy to the world through sound.
Sound United can bring a lot to the party in this deal. The company owns the HEOS multi-room audio technology that could be built into Bowers & Wilkins Formation range of wireless speakers. This would inject life to a product lineup that’s been struggling to gain a foothold in the market. With HEOS onboard, B&W wireless speakers could work with Marantz and Denon audio gear to play music all around the home.
The proposed transaction remains subject to ongoing discussions, confirmatory diligence, regulatory approvals, and other required consents. Sound United and Bowers & Wilkins will release further updates in relation to the status of the proposed transaction at the appropriate time. This isn’t the first big acquisition that Sound United has attempted. Earlier this year, talks were held, and a memo of understanding signed, between Sound United and Onkyo. The deal was to take over both the Pioneer and Onkyo brands. However, talks fell through at the last moment. For this reason, we will have to wait and see if this acquisition definitely goes ahead, but if it does then B&W will become a part of a collective of big-name audio brands.
Sound United is a portfolio company of Boston-based private equity firm Charlesbank Capital Partners, LLC. I will update this story when I get more news.
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