Company aims for first-quarter sale.
Oxford, England-based professional audio equipment manufacturer Solid State Logic and its subsidiaries are being offered for sale. A statement from the company cites a dispute between shareholders over development funding.
Shareholders have retained Grant Thornton U.K. LLP to assist and advise on the sale of all share capital.
A confidential Information Memorandum is being issued to potential buyers. According to SSL's statement, a number of parties have expressed interest, and the shareholders' goal is for a sale to be concluded by March 31.
The statement adds that shareholders are "pleased with new revenues built through diversification," and that "new investment to boost this activity had been under discussion. Existing shareholders may well re-bid for the business under a new financial structure."
Responding to the shift from large-format analog consoles and tape machines to digital audio workstation-based recording, SSL introduced the AWS 900 Analog Workstation Controller in 2004, a 24-fader DAW interface with SSL’s highly regarded signal path. The company claims the AWS 900 is its fastest-selling music console.