Transom Capital Group has completed the carve-out of the Bose Professional division from Bose Corporation.
Bose designs, manufactures and sells audio equipment and related products used by consumers, businesses, and professionals. The company’s products range from headphones and speakers to soundbars and home theater systems.
The Bose Professional division provides audio products – sound systems, loudspeakers, amplifiers, mixers, and digital signal processing equipment – used in commercial and professional applications including concert venues, churches, sports stadiums, hotels, and conference centers.
The division also provides a range of services including system design, installation, training, technical support, maintenance and repair. Bose Professional is headquartered in Framingham, Massachusetts, and is led by CEO Michael Bennett.
“We’re excited about the new opportunities this will enable us to explore,” said Mr. Bennett. “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.”
Bose Professional division’s portable public address systems business – smaller, compact and easy-to-transport audio systems that usually include a microphone, amplifier, and speakers that are powered by a battery or electricity – is not included in the sale to Transom.
“We’re proud of what Bose Professional has accomplished – its legacy in the professional AV market and the diverse list of amazing installations it has completed all over the globe,” said Lila Snyder, the CEO of Bose. “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 Corporation was founded in 1964 by Dr. Amar G. Bose – a professor of electrical engineering and sound engineering at MIT – and today is still owned by the Bose family. The company is headquartered near Boston in Framingham, Massachusetts, and operates facilities in North and South America, Europe, Asia, and Australia.
“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,” said Russ Roenick, a co-founder and managing partner at Transom. “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.”
Transom is headquartered near Los Angeles in El Segundo, California, and invests in companies with enterprise values between $10 million and $150 million.
Progress Partners was the financial advisor to Bose on this transaction.
© 2023 Private Equity Professional | April 13, 2023