(Bloomberg) — HongShan Capital Group has agreed to purchase 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 greater than 20% stake within the Stockholm-based firm, whose guitar amplifiers have been utilized by rock legends together with Jimi Hendrix and Eric Clapton, in accordance with an announcement Friday. The announcement confirmed an earlier Bloomberg Information report that HongShan, the funding agency previously referred to as Sequoia China, was nearing a deal for Marshall.
HongShan is a enterprise capital and personal fairness agency investing throughout know-how, well being care and client sectors. Since its basis in 2005, it has backed greater than 1,500 firms, together with Alibaba Group Holding Ltd., BYD Co. and ByteDance Ltd., its web site exhibits.
This transaction, which is topic to regulatory approvals, will mark HongShan’s largest funding in Europe thus far. The agency manages greater than $55 billion in property.
An audio, know-how and design group, Marshall traces its roots again to 1962 within the UK, in accordance with its web site. Its merchandise vary from amplifiers to headphones and wi-fi audio system. It has a presence in additional than 90 markets.
Carefully held Swedish group Zound Industries acquired Marshall in 2023, whereas the founding Marshall household remained a shareholder. The transaction additionally included Natal Drums, Marshall Information and the Marshall Stay Company.
(Provides particulars on earlier homeowners in remaining paragraph)
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