Clearwater International Denmark has advised TC Group, one of the largest companies in the professional audio industry with a revenue of more than €100m, on its agreed (cross-border) sale to MUSIC Group.
Headquartered in Denmark, TC Group is the corporate parent of a collective of prestigious sound & audio technology brands including Lab Gruppen, Lake and TC Helicon. With operations spanning 4 continents and market share across the Musician, Broadcast & Production and Install & Tour sectors, the business is a global leader in producing innovative consumer and professional sound products.
TC Group also owns and manages TC Electronic, an established leader in broadcast, studio, mastering and production processing, and Tannoy, which has won “Best in Class” Awards for its HiFi products.TC Group’s strong focus on product innovation and IP creation is further demonstrated by its TC Applied Technologies company which is invested in cutting-edge semiconductor designs, networking and interface technology.
MUSIC Group, based in the Philippines, is one of the world’s largest holding companies for professional audio and music products brands. The addition of the Tannoy, Lab Gruppen and Lake brands will allow MUSIC Group to round out its professional install and touring sound offerings, while leading guitar effects and voice processing brands TC Electronic and TC Helicon perfectly complement MUSIC Group’s Bugera guitar tube amplifier brand and highly successful Behringer prosumer division.
MUSIC Group plans to invest heavily in positioning TC Group’s brands at the top of the industry, and the combined businesses will have a powerful influence on the professional audio sector.
Clearwater International partners Søren Nørbjerg and Per Surland advised the vendors on the sales process, during which some of the largest industry players showed high levels of interest in bidding for TC Group.