Allen & Heath Holdings, a leading UK designer and manufacturer of audio mixing equipment, has been acquired by global audio-visual equipment provider D&M Holdings. The deal sees the first exit for Close Growth Capital, (CGC), the leading provider of single source finance to the lower mid market, from its current fund.
Allen & Heath, which is based in Penryn, Cornwall, makes consoles for professional sound engineers, live sound installations and DJs. This latest acquisition by D&M complements that of Calrec Audio, a manufacturer of audio production equipment for broadcasters, which it acquired in September 2007. Clearwater advised both Allen & Heath and Calrec on the sale of their businesses. Allen & Heath has a dedicated team of employees, many of whom have been with it for 15 years or more, who take responsibility for providing customers with high quality products.
The management team of Glenn Rogers (MD), Dave Jones (FD), Tony Williams (Operations) and Bob Goleniowski (Sales) has turned a niche company from Cornwall into a global success story with a solid reputation for excellence and innovation in digital live sound and is the console of choice of the world’s top DJs. From building consoles for bands such as Pink Floyd and The Who in the 70s its systems are now used by a broad range of live music venues and leading club DJs around the world. Allen & Heath also provides installed sound systems for conference centres, lecture theatres and hotels. The business now employs 155 people, has a turnover of £18m and sells to a large group of global distributors.
D&M Holdings, which is listed on the Tokyo Stock Exchange, owns brands including Denon and Denon DJ, Boston Acoustics, Snell Acoustics and Replay TV.