Pioneer Corporation and KKR have completed a transaction under which KKR and Pioneer now own 85.05% and 14.95%, respectively, of Pioneer DJ Holdings Co., a maker of sound equipment for DJs.
Pioneer DJ develops and markets equipment for DJs, including CD players, mixers, controllers, headphones and speakers. According to KKR, the company has a leading presence in the DJ equipment market with the top global market share and is the favored brand of top professional and amateur DJs worldwide. The company is based in Tokyo (www.pioneerdj.com).
“KKR has a wealth of experience in the technology and media industry globally, and we are confident it has the expertise to drive Pioneer DJ forward. Pioneer will retain 14.95% of the voting rights in Pioneer DJ, and we will work with KKR to ensure the future growth of the company,” said Pioneer President and CEO Susumu Kotani.
“We are delighted to have successfully completed this transaction, which is the first step in a promising future for Pioneer DJ. Pioneer DJ has built a leading position in the market based on its powerful brands and excellence in matching product development to market requirements. Over the long term, by working together with Pioneer DJ’s innovative management team, employees and Pioneer, KKR can provide support for the further growth and global expansion of the company,” said Hiro Hirano, Member of KKR and CEO of KKR Japan.
Yoshiaki Ide, Pioneer DJ President and CEO, said, “With the support of KKR, Pioneer DJ is embarking on a new journey as an independent company. We aim to leverage KKR’s global network and management expertise to grow our business. As an entertainment creation company we remain committed to the development of products and services that exceed customer expectations, and through the efforts of each employee we will strive to further improve customer value.”
KKR makes private equity, fixed income and other investments in companies in North America, Europe, Asia and the Middle East. The firm has $90 billion in assets under management. KKR was founded in 1976 and in addition to its New York headquarters the firm has offices in Menlo Park, San Francisco, Houston, Washington DC, London, Paris, Hong Kong, Tokyo, Beijing, Mumbai, Dubai and Sydney (www.kkr.com).
Pioneer Corporation is a global manufacturer of electronic products for the consumer and professional markets. The company is based in Tokyo (www.pioneer.jp)
© 2015 PEPD • Private Equity’s Leading News Magazine •3-2-15
