Music Group has acquired Tannoy, Lab.gruppen, Lake and TC Electronic parent company TC Group.
Headquartered in Denmark, and with offices all over the world, TC Group owns and manages the above brands, along with TC Helicon and TC Applied Technologies.
The addition of Tannoy, Lab.gruppen and Lake allows Music Group to round out its professional install and touring sound portfolio – which also includes Midas, Klark Teknik and Turbosound – and expand further into pro-AV, while guitar effects and vocal processing specialists TC Electronic and TC Helicon "perfectly complement" the firm's Bugera guitar amp brand and Behringer prosumer division, Music Group says.
Uli Behringer, CEO and founder of Music Group, commented: “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 will now equally have full access to Music Group’s extensive resources and advanced automated system platforms in such areas as product development and lifecycle management, engineering, manufacturing, supply chain and finance.”
Anders Fauerskov, TC Group CEO, added: “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.”