The Carlyle Group (Nasdaq: CG) looks to expand Beats Electronics LLC, domestically and internationally. The move comes after the private equity firm purchased a minority stake in the Santa Monica, Calif. audio brand, which was co-founded by record producer and rapper Andre Young, known as Dr. Dre. The company is known primarily for making high-end headphones that usually go for north of $100. Despite the hefty price tags of its products, Beats is on track to rake in $1.2 billion dollars in revenue for 2013.

Beats also makes speakers and various types of audio software technology. The company says it has a 64 percent market share in the $100 plus headphone category in North America.

Subscribe Now

Complete access to real-time information and analysis of news and trends in the industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.