A Dallas-based firm sold the high-end luxury audio brand McIntosh to Bose.
DALLAS — This article was originally published by our content partners at the Dallas Business Journal. You can read the original article here.
Highlander Partners LP, a Dallas-based private equity firm, has sold high-end audio brand McIntosh Group to Bose Corp.
Highlander Partners confirmed the sale in a Nov. 19 announcement. Terms of the deal and the purchase price were not disclosed, but the deal was finalized on Nov. 15.
The Dallas private equity firm acquired the McIntosh brand and its Vicenza, Italy-based luxury audio company Sonus faber in 2022. Framingham, Mass.-based Bose Corp., another well-known manufacturer in audio equipment, picked up the iconic U.S. brand in a deal that launches Bose into the high-end luxury audio market while it continues to build onto its current products.
“There is this opportunity for luxury, where the consumer is more discerning, really interested in the heritage and the story, and that handcrafted nature,” Bose CEO Lila Snyder told CNBC.
McIntosh Group was founded in 1949 and is based in Binghamton, New York. The portfolio company manufactures audio equipment including some of the world’s most luxurious amplifiers, speakers, turntables and more under its brands of McIntosh, Sonus faber and Sumiko Phono Cartridges.
“McIntosh is a legendary American brand, and Sonus faber is the definition of fine art in the audio world,” said Jeff Hull, president and CEO of Highlander Partners. “We are honored to have been stewards of these businesses. We are proud of what we accomplished and believe McIntosh and Sonus faber have tremendous growth potential. We are excited to watch these brands reach new heights under Bose’s ownership.”
Highlander Partners tapped Chicago-based Katten as legal counsel in the transaction, and Italian law firm Adacta served as legal and tax advisors in Italy.