Finally, after what seems like weeks of ‘chatter’, it has been confirmed that an agreement has been reached with the Music Group is to buy TC Group whose brands include Tannoy, Lab Gruppen, Lake TC Electronics and TC-Helicon. The deal has been announced today, April 30th with final details to be concluded next week.
Commenting on the acquisition, Music Group founder and CEO says this: “Throughout our search, TC Group has clearly stood out as the ideal match because of their world-class brands, impressive intellectual property, sterling reputation and first-class team of people. I am very proud to welcome the TC Group team into our family.”
“We will invest heavily in positioning TC Group’s brands at the very pinnacle of the industry, as we have done with Midas, Klark Teknik and Turbosound, where we have invested over $100 million in highly automated and integrated manufacturing facilities, quality control systems and engineering resources, including a new Center of Engineering Excellence in Manchester, UK.”
For the full announcements by each of the organisations you can follow these links: TC Group, Music Group to get more info on the deal and the thinking and plans around this significant industry development.