New York — Fine Sounds Group, parent of McIntosh Laboratory, is being sold as part of a management buyout.
The amount of the transaction was not disclosed.
In a statement, Mauro Grange, CEO of Fine Sounds SpA, and Charlie Randall, president of McIntosh, announced their plans in partnership with LBO France and Yarpa.
The companies said the deal “will facilitate greater opportunities for global collaborations amongst the product development, marketing, distribution and finance teams of each of the group's portfolio of brands, which includes Sonus Faber, Audio Research Corporation, Wadia Digital, Sumiko and McIntosh.”
Grange, Randall, LBO France and Yarpa are purchasing Fine Sounds Group from Milan-based investment firm Quadrivio, which has owned the group since 2008. The company headquarters will subsequently relocate to New York City, with Grange serving as group CEO and Randall serving as group COO and president of McIntosh concurrently, the companies said.