Private equity firm Kohlberg & Co. LLC is buying Steinway Musical Instruments Inc. (NYSE: LVB) for $438 million.

Steinway, through its Steinway and Conn-Selmer divisions, designs, makes and sells musical instruments, including Steinway & Sons pianos, Bach Stradivarius trumpets, Selmer Paris saxophones, C.G. Conn French horns, Leblanc clarinets, King trombones and Ludwig snare drums. The Waltham, Mass.-based company also produces and sells classical music recordings through its online music retailer, ArkivMusic.

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