Is it too soon to make a waveguide joke?
There is no brand in all of hifi-dom more recognized by everyone than McIntosh—some people buy their gear for those famous blue meters. And there is no brand in all of hifi-dom more ridiculed than Bose.
A perfect marriage?
Bose CEO Lila Snyder told CNBC in an interview:
“There is this opportunity for luxury, where the consumer is more discerning, really interested in the heritage and the story, and that handcrafted nature.”
Synder also mentions car audio in the same CNBC piece with a specific reference to places Bose just can’t go but McIntosh can—”Lamborghini is a great example of that,” Snyder said. And there’s the untapped by Bose luxury wearables market…
Snark aside, McIntosh and Sonus faber have been under the ownership of Highlander Partners, L.P., a Dallas-based private investment firm, since 2022 so it was only a matter of time before a more suitable suitor came along.
Here’s the press release:
Highlander Partners Announces the Sale of McIntosh Group to Bose Corporation
DALLAS, Nov. 19, 2024 /PRNewswire/ — Highlander Partners, L.P. (“Highlander”), a Dallas-based private investment firm, today announced the sale of its portfolio company, McIntosh Group (“The Group” or “the Company”) to Bose Corporation (“Bose”).
Highlander acquired the Company in June 2022. McIntosh Group is the parent company of the iconic high-performance and luxury audio brands, McIntosh and Sonus faber. McIntosh, headquartered in Binghamton, New York, was founded in 1949, while Sonus faber, founded in 1983, is headquartered in Vicenza, Italy. The transaction was consummated on November 15, 2024.
The McIntosh Group has been a global leader in high-end audio equipment for decades and today manufactures the world’s finest amplifiers, speakers, turntables and other audio products under several renowned brands that include McIntosh, Sonus faber and Sumiko Phono Cartridges. They are driven by their dedication to quality performance, sophisticated technology, refined design, and artisan manufacturing, and that’s resulted in delivering products known for incomparable design, product quality and consumer experiences.
Jeff L. Hull, President and CEO of Highlander Partners commented, “McIntosh is a legendary American brand, and Sonus faber is the definition of fine art in the audio world. We are honored to have been stewards of these businesses. We are proud of what we accomplished and believe McIntosh and Sonus faber have tremendous growth potential. We are excited to watch these brands reach new heights under Bose’s ownership.”
Hull added, “I would like to thank Dan Pidgeon (CEO, McIntosh Group) and Charlie Randall (President, McIntosh), and the entire team for being incredible partners over our ownership period. Their leadership has allowed the Company to continue to flourish and I wish all of them the best in their next phase of success.”
Katten acted as Highlander’s legal counsel in connection with the transaction and Adacta served as legal and tax advisors in Italy.
About Highlander Partners
Highlander Partners, L.P. is a Dallas-based private investment firm with more than $3 billion in assets under management. The firm focuses on making investments in businesses in targeted industries in which the principals of the firm have significant operating and investing experience. Highlander Partners employs a buy and build investment approach, creating value by helping companies grow both organically and through acquisitions. For more information, visit www.highlander-partners.com.
