Marshall, Iconic Amp Company, Bought by Zound Industries
Zound's CEO said the deal will "allow us to be quicker with innovation and to have a deeper and more holistic connection with musicians and music lovers."
Marshall Amplification, known for furnishing amps to a who’s who of rock stars, is being acquired by the Swedish tech company Zound Industries, Zound announced on Thursday (March 30). Zound had previously licensed the Marshall name for more than a decade and helped spread it around the world through popular headphones and speakers.
The new combined company will be dubbed the Marshall Group. Zound’s press release trumpeted that “on day one, Marshall Group revenues will be over $360 million with double-digit profitability.”
“Combining our strengths and unique positioning… will fuel our ambition to create premium, innovative, products and experiences for musicians and music lovers around the world,” Zound CEO Jeremy de Maillard said in a statement. “Zound has proven itself as a global, fast growing, and progressive company. With the Marshall Group, we are set to accelerate our profitable growth in a $100 billion market.”
“I am proud that this deal has finally been completed,” added Konrad Bergström, founder and board member of Zound Industries until 2018. “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.”
Jim Marshall and his son Terry created the first Marshall amp in 1962, and the gear was subsequently popularized by rockers like Jimi Hendrix and The Who. “We have always looked for ways to deliver the pioneering Marshall sound to music lovers of all backgrounds and music tastes across the world,” Terry Marshall said in a statement. “I’m confident that the Marshall Group will elevate this mission and spur the love for the Marshall brand.”
The Marshall Family will be the largest shareholder of the Marshall Group, holding on to 24%.
Zound first started licensing the Marshall name back in 2010. “We brought the Marshall brand to over 90 countries through the headphones and the speakers,” de Maillard told The Verge. “So it became a much more known brand by the masses than it was before. Before it was the in-the-know, the musicians, people who were really into music who knew about the brand. But through this partnership, we’ve managed to touch a lot more people.”
“We’re very complementary to each other and this deal will enable us to bring together the full range of products and the entire consumer experience under one roof,” de Maillard added in a separate interview with Forbes. “It will allow us to be quicker with innovation and to have a deeper and more holistic connection with musicians and music lovers.”