ICONIC American hi-fi manufacturer McIntosh Labs has a new owner – Fine Sounds SpA of Milan, Italy, whose buying spree in recent years has seen it sweeping up premium brands like Sonus Faber, Audio Research Corporation, Wadia Digital and Sumiko. The McIntosh acquisition has Fine Sounds taking up a 100% stake in the the six-decade old company.
Fine Sounds is owned by Quadrivio, an investment management company also based in Milan. According to a press statement from the company, the acquisition of Binghamton, New York-based McIntosh, previously owned by the D&M Group, represents a marquee investment for the group.
Both Fine Sounds and McIntosh believe the acquisition will deliver important benefits to McIntosh’s customers, sales partners and employees by providing opportunities for building on Fine Sounds’ product development capabilities, distribution synergies and financial resources.
“We are thrilled to welcome McIntosh, one of the industry’s most illustrious brands, into our portfolio,” says Mauro Grange, CEO of Fine Sounds Group.
“McIntosh is dedicated to the highest calibre of high-end audio and is a perfect fit with our own culture and vision. We will treasure and protect the legacy of McIntosh as well as its people and reputation.
“This acquisition represents a strategic direction for our company to be a leader in the international luxury audio arena, and to have products that are the best in the world in their category. With the distribution synergies we will have with our other outstanding brands, McIntosh will be positioned for substantially accelerated global growth,” he added.
Charles Randall, current McIntosh president and CEO, will continue managing the brand.
“We are very excited to be joining hands with a partner that has a deep appreciation for our unique brand, history and company culture,” says Randall.
“It’s their appreciation of our legacy, as well as their strong leadership, distribution advantage and marketing expertise that gives us confidence in a bright future.”
Annual revenues of the Fine Sounds Group proforma for the recent transactions are in excess of US$70 million, with 250 employees worldwide.
McIntosh, founded in 1949, is known for offering distinguished quality audio products that are handcrafted at the Binghamton factory. The legendary “McIntosh Blue” meter is among the most distinctive signatures in the hi-fi industry.
