Marshall Group has been acquired by HongShan Capital Group (HSG) in a landmark deal valued at $1.16 billion (€1.1 billion). The Marshall family will retain a 20% stake in the company, while previous investors including Altor, Telia, Time for Growth, and Zenith VC will exit their positions.

This acquisition represents HSG's largest European investment to date. The Hong Kong-based company, which holds investments in tech giants like Alibaba and ByteDance, aims to expand Marshall's global presence.

Key details about the deal:

• Valuation: $1.16 billion (€1.1 billion)
• Marshall family retention: ~20%
• Current revenue: Over $420 million (€400 million)
• Q3 2024 performance: $102.43 million in net sales (15% YoY growth)

The acquisition follows Marshall's 2023 restructuring, which consolidated its various divisions including amplifiers, Bluetooth speakers, headphones, and artist services under one umbrella. CEO Jeremy de Maillard states this partnership creates "perfect conditions" for building on Marshall's iconic status globally.

This move aligns with growing music industry investment in the Asian market, particularly in China and Hong Kong. Recent examples include Live Nation's acquisition of Clockenflap and Universal Music's partnership with Modern Sky and acquisition of Outdustry.

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