d&b Group has announced a major investment by Providence, a private equity firm specializing in growth-oriented investments in media, communications, education and technology, which the company states that it plans to use to further strengthen its position in the professional audio market while also further integrating its capabilities in the audio-visual, lighting and media (AVLM) sector.
As part of the transaction, the d&b management team will also acquire a stake in the company to help ensure long-term leadership and strategic continuity. The parties have agreed not to reveal details of the transaction and the conclusion of the transaction is subject to approval by the relevant antitrust authorities.
The company further states that since it’s acquisition by private equity firm Ardian, d&b’s previous owner, in 2016, sales have tripled. The number of employees has also risen from 350 in 2016 to a team of more than 1000 with offices around the globe.
Amnon Harman, CEO, d&b Group: “The global growth trend for events, concerts and major events has continued unchanged after a forced break due to the COVID-19 pandemic. This is accompanied by the increasing professionalization and digitization of these events and thus an increasing need for professional event technologies. As one of the world’s leading system providers for audio technology and integrated audio, video, light and media solutions (AVLM) with a comprehensive portfolio of hardware and software technologies, we are perfectly positioned to gain further market share.
Ardian has proven to be a reliable business partner over the past few years. Thanks to their unwavering support, especially during the pandemic, we have been able to innovate during this period of crisis and to emerge stronger from it. We look forward to continuing our successful journey with Providence and cementing our global position as a leader in professional audio and integrated AVLM solutions.”
Providence managing director Robert Sudo adds, “d&b bears the hallmarks of a classic Providence investment – it is a business with innovation at its core, clear market leadership and loyal customers. d&b’s passionate team has advanced and defined industry standards and exceeded client expectations for the last four decades. We believe d&b will continue its growth trajectory by delivering spectacular experiences to audiences across the globe. With our solid track record of investing in live entertainment and technology companies, we are confident Providence is the ideal partner to support d&b and we look forward to working with Amnon and his hugely talented team to execute our shared vision for the business.”
Andew Tisdale, senior managing director, Providence, concludes, “The needs of customers in live entertainment are becoming ever more complex, which has expanded d&b’s addressable opportunities. We were impressed by d&b’s passionate management team and with Providence’s resources and network, we are committed to supporting d&b’s strategic plan.”
