Saline, Mich. -
has joined the Fine Sounds stable of audio brands.
Italy-based Fine Sounds Spa, which owns the high-end
brands, has purchased Wadia Digital as part of what Fine Sounds called its "strategy of becoming a leading multi-brand player in the two-channel high-end audio sector."
Wadia said its acquisition provides "opportunities for building on Fine Sounds Group's product development capabilities and financial resources" and that it would use Fine Sounds resources to expand its Series 1 premium lifestyle line. That line consists of a small iPod dock, an iPad/iPod/iPhone dock, and a small integrated amp to connect to them to create a small desktop audio system. A DAC will be added to the line at January's International CES.
John Schaffer, Wadia president/CEO, told TWICE that the three brands are complementary, with Sonus Faber focused on speakers, Wadia known mainly for digital audio electronics, and Audio Research well-known for its analog audio components, though it also sells integrated-circuit components. Schaffer, who joins the Fine Sounds board, also said that although the Wadia and Audio Research lines overlap, Wadia has focused more on digital-to-analog conversion technology, whereas Audio Research has focused more on amps and preamps.
Wadia plans no staff or distribution changes, he added.
Fine Sounds Spa is owned by Milan-based private equity fund
. With the acquisition, Fine's annual revenue exceeds $30 million through 120 employees worldwide. Fine Sounds acquired Sonus Faber and Audio Research in the past few years.
Quadrivio currently manages a family of funds with total equity exceeding $300 million.