LDC backs Martin Audio MBO

Christopher Papadopoullos
02 July 2018

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LDC has backed the management buyout of Martin Audio, a manufacturer of loudspeaker systems, from Loud Audio.

LDC said it invested £12m for a significant stake.

Loud Technologies had attempted to sell Martin Audio in 2012 when the group was backed by Sun Capital Partners. The group was sold and restructured before its main brands were acquired by Transom Capital Group under the group name Loud Audio.

Martin Audio aims to develop its product range and ramp up its sales and marketing operations.

Company
Founded in 1971 and based in Buckinghamshire, Martin Audio designs and manufactures loudspeaker systems for commercial installations, tours and events. It has provided equipment for London's British Summertime Festival at Hyde Park, Rock in Rio and London's Ministry of Sound. It has a turnover of around £20m. In recent years its EBITDA has been around 10% of its revenue.

People
Martin Audio – Dom Harter (managing director).
LDC – Troy Harris-Speid (investment director).

Advisers
Equity – James Cowper Kreston (financial due diligence); Houlihan Lokey (corporate finance).
Company – Cattaneo Corporate Finance (corporate finance); Womble Bond Dickinson (legal).