Management Buyout of Fine Sounds Group
auro Grange, CEO of Fine Sounds SpA, and Charlie Randall, longtime President of McIntosh Laboratory, Inc., have announced their plans for a management buyout of Fine Sounds Group from Milan-based investment firm Quadrivio, which has owned the Group since 2008. The buyout will happen in financial partnership with LBO France and Yarpa. Fine Sounds Group's portfolio of high-end audio brands includes Sonus faber, Audio Research Corporation, Wadia Digital, Sumiko and McIntosh.
Grange joined Fine Sounds Group in 2009 and headed the 2012 acquisition of McIntosh, thereby becoming acquainted with McIntosh president Charlie Randall, who has been an integral part of the company since the start of his professional career in 1985. Randall was named president of McIntosh in 2001.
According to Grange, "When Charlie and I met, there was instant chemistry. We both had the same vision for the future -- merging Fine Sounds and McIntosh in order to create a leading group of luxury lifestyle brands. When the opportunity presented itself to buy Fine Sounds back from Quadrivio, it was a dream come true for us both. Thanks to our partnership with LBO France and Yarpa -- two of Europes leading private equity firms -- we can now fast-track our plans for accelerated global growth and a commanding presence in high-end audio."
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