The TC Group was quietly put on sale last September with a price tag around £150m. Today a contract has been signed between the TC Group which owns Tannoy, TC Electronic, TC-Helicon, Lab.gruppen, Lake, TC Applied Technologies and White Acoustics and The Music Group owned by Uli Behringer, who already owns pro-audio brands like Midas, Turbosound and Klark Teknik and the “prosumer” Behringer line. The final details are expected to be completed next week at which point the acquisition will be complete. The announcement goes on to say...
The addition of Tannoy, Lab Gruppen and Lake allows MUSIC Group to round out their professional install and touring sound offerings alongside Midas, Klark Teknik and Turbosound, while TC Electronic and TC-Helicon represent the industry’s leading brands in the guitar effects and voice processing sector, and perfectly complement MUSIC Group’s Bugera guitar tube amplifier brand and highly successful Behringer prosumer division.
MUSIC Group founder and CEO Uli Behringer told us...
MUSIC Group stands for relentless focus on innovation, business transformation and overall IP creation. Since the acquisition of Midas, Klark Teknik and Turbosound, we have been continuously pursuing brands that complement the mixing console, processing and loudspeaker excellence offered by these historic brands. Throughout our search, TC Group has clearly stood out as the ideal match because of their world-class brands, impressive intellectual property, sterling reputation and first-class team of people. I am very proud to welcome the TC Group team into our family. We will invest heavily in positioning TC Group’s brands at the very pinnacle of the industry, as we have done with Midas, Klark Teknik and Turbosound, where we have invested over $100 million in highly automated and integrated manufacturing facilities, quality control systems and engineering resources, including a new Center of Engineering Excellence in Manchester, UK.
TC Group’s CEO Anders Fauerskov responded,
We are very honoured that during the acquisition process, some of the largest industry players were bidding for TC Group; however we have selected MUSIC Group as they represent the perfect fit in terms of strategic direction, overall synergies and company culture. Our team is thrilled to join MUSIC Group and open a new chapter for TC Group and its prestigious brands. With the incredibly talented people and massive resources of the MUSIC Group behind us, the team is excited to enter a new era of unprecedented innovation and growth.
German entrepreneur Uli Behringer started his expansion plans back in 2009 when he bought UK based console manufacturer Midas and signal processing company Klark Teknik. From that he formed The Music Group to act as a parent company for his growing portfolio of pro audio companies adding Turbosound in 2012.
Based on the way Midas has flourished as well as the development of Behringer products like the X32 with clear Midas influences it looks promising that the future of the TC Group will be very rosy and we look forward to see what developments emerge from this new partnership..