The Bose Corporation has announced the sale of the Bose Professional Division to Transom Capital Group, a leading operations-focused middle market private equity firm. With this deal, Transom assumes ownership of the Bose Professional commercial installation and conferencing businesses. Bose retains its portable PA systems as part of its core consumer product business.
The US-based multinational and audio system innovator has developed audio systems that are easy to design, install and operate for performance, commercial and conferencing applications more than 50 years. The company has worked with A/V integrators, system designers, installers and consultants, and its systems are in use in workplaces, houses of worship, universities, restaurants, retail stores, hotels, performing arts centre and stadia worldwide.
‘We’re proud of what Bose Professional has accomplished – its legacy in the professional A/V market and the diverse list of amazing installations it has completed all over the globe,’ says Bose Corporation CEO, Lila Snyder. ‘The sale to Transom will provide Bose Professional the additional attention it needs to support the professional audio customer, and to continue to develop products and technologies that stand out in the industry. It will also allow Bose to focus more deeply on our core business – creating amazing audio experiences for on-the-go, at home and in the car.’
‘Bose Professional’s tenure in the professional audio business, its standout product portfolio and customers, as well as its team dedicated to researching, engineering and delivering new and innovative products, made it a compelling business for us to bring into our portfolio,’ says Transom founder and Managing Partner, Russ Roenick. ‘We are working closely with Bose to ensure business continuity for Bose Professional going forward, and we look forward to continued success for the business as an independent company.’
The move is accompanied by the appointment of Mark Ureda to the company’s Board of Directors. Ureda’s nearly four decades of experience across a variety of strategic leadership roles include Senior Vice President of Harman International, Vice President of JBL, and Vice President of Corporate Strategy and Technology at Northrup Grumman. As business advisor, Ureda adds to the already extensive professional audio experience currently seen in Bose Professional’s leadership team.
‘We’re excited about the new opportunities this will enable us to explore,’ adds Michael Bennett, CEO of Bose Professional. ‘Our customers are the key reason we develop systems that are easy to design, easy to install and easy to operate. As the pro-AV industry continues to evolve, our focus is on ways to help our customers be more successful and clear the path to great sound.’
Progress Partners acted as Bose’s exclusive financial advisor in connection with the sale. Additional information, including financial and other terms of the transaction, will remain confidential.
More: https://pro.bose.com
