MUSIC Group strengthens pro audio offering with TC Group acquisition30 April 2015
MUSIC Group has announced the acquisition of TC Group, one of the largest company groups in the pro audio industry. The Group owns and manages Tannoy, Lab Gruppen, Lake, TC Electronics, TC Helicon and TC Applied Technologies.
The addition continues MUSIC Group’s expansion into the pro AV market with Tannoy, Lab Gruppen and Lake joining Midas, Klark Teknik and Turbosound already on MUSIC Group’s books.
MUSIC Group founder and CEO Uli Behringer commented: “MUSIC Group stands for relentless focus on innovation, business transformation and overall IP creation. Since the acquisition of Midas, Klark Teknik and Turbosound, we have been continuously pursuing brands that complement the mixing console, processing and loudspeaker excellence offered by these historic brands. 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.”
Uli Behringer continued: “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.
TC Group will now equally have full access to MUSIC Group’s extensive resources and advanced automated system platforms in such areas as product development and lifecycle management, engineering, manufacturing, supply chain and finance.”
TC Group’s CEO Anders Fauerskov responded: “We are very honoured that during the acquisition process, some of the largest industry players were bidding for TC Group; however we have selected MUSIC Group as they represent the perfect fit in terms of strategic direction, overall synergies and company culture. Our team is thrilled to join MUSIC Group and open a new chapter for TC Group and its prestigious brands. With the incredibly talented people and massive resources of the MUSIC Group behind us, the team is excited to enter a new era of unprecedented innovation and growth.”