Electra in £14m Calrec deal

The deal was fully financed by listed entity Electra Private Equity, providing both debt and equity.

Following the deal, Calrec will become a sister company to existing Electra portfolio company Allen & Heath. Allen & Heath was purchased by Electra in June 2013 for £43m, also from Japanese and American audio equipment company D&M.

According to Charles Elkington, investment partner at Electra, the deal fits the investment strategy for Allen & Heath, which was to acquire additional businesses in the audio sector to bolster the company's position in the market.

Company
Founded in 1964, Calrec manufactures audio mixing consoles used for television and radio broadcasts, with a special focus on sports and live events. Clients include Al Jazeera, the BBC, CBS and Sky.

According to Calrec, the company's products address the increased demand for digital audio channels at higher resolutions, which require more processing power, due to the increased workload demanded by 3D and HD broadcasting.

Calrec is headquartered in a converted 19th-century mill in Hebden Bridge, West Yorkshire. The company is active in the US, the Middle East and Singapore.

People
Allen & Heath's existing chairman Malcolm Miller will work with both companies. Alex Fortescue is chief investment partner at Electra. Electra investment partner Charles Elkington led the deal. Roger Henderson is the managing director of Calrec.

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