Marshall Amplification Plc, the iconic maker of guitar amplifiers used for decades by musicians including Jimi Hendrix, Eric Clapton and Lana Del Rey, has agreed to be acquired by Stockholm-based Zound Industries.
The privately owned Swedish firm, which already designs and develops speakers and headphones using the Marshall brand, will create a newly formed company called the Marshall Group under the terms of the deal, it said in a statement.
The Marshall family — heirs of the “Father of Loud” Jim Marshall, who died in 2012 — will become the largest shareholder of the group with a 24 percent stake. The transaction includes Marshall Amplification’s Natal Drums, Marshall Records and the Marshall Live Agency. The 60-year-old company has had an agreement with Zound since 2010 that expanded its product range into headphones and speakers.
“The success that we have achieved with the Marshall brand over recent years is soon going to be seen as having been the warm up to a new British-Swedish headline act that is going to shake the tech and music industries to their foundations,” said Konrad Bergstrom, the founder of Zound Industries and adviser to the new Marshall Group. “Spinal Tap features one of cinema’s most iconic scenes when Nigel shows off how his Marshall guitar amplifier can turn ‘up to eleven’, but what we are announcing today is no parody.”
Marshall Group’s revenues will be more than $360 million, based on combined sales for the last 12 months, with “double-digit profitability,” the companies said. No further financial details were disclosed.