HongShan Confirms $1.1 Billion Deal to Purchase | finance news
(Bloomberg) — HongShan Capital Group has agreed to buy a majority stake in audio tools maker Marshall Group AB in a deal valued at about $1.1 billion.
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The founding Marshall household will retain a more than 20% stake within the Stockholm-based company, whose guitar amplifiers have been utilized by rock legends together with Jimi Hendrix and Eric Clapton, in response to a assertion Friday. The announcement confirmed an earlier Bloomberg Information report that HongShan, the investment firm previously generally known as Sequoia China, was nearing a deal for Marshall.
HongShan is a enterprise capital and personal equity firm investing throughout technology, health care and shopper sectors. Since its basis in 2005, it has backed more than 1,500 firms, together with Alibaba Group Holding Ltd., BYD Co. and ByteDance Ltd., its web site reveals.
This transaction, which is subject to regulatory approvals, will mark HongShan’s largest investment in Europe thus far. The firm manages more than $55 billion in belongings.
An audio, technology and design group, Marshall traces its roots back to 1962 within the UK, in response to its web site. Its merchandise vary from amplifiers to headphones and wi-fi audio system. It has a presence in more than 90 markets.
Intently held Swedish group Zound Industries acquired Marshall in 2023, whereas the founding Marshall household remained a shareholder. The transaction additionally included Natal Drums, Marshall Data and the Marshall Stay Company.
(Provides particulars on earlier house owners in last paragraph)
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