MUSIC Group has announced the acquisition of TC Group, which owns and manages brands such as Tannoy, Lab Gruppen, Lake, TC Electronics, TC Helicon and TC Applied Technologies, headquartered in Denmark.
The addition of Tannoy, Lab Gruppen and Lake allows MUSIC Group to round out its professional install and touring sound offerings alongside Midas, Klark Teknik and Turbosound, while TC Electronics and TC Helicon represents leading brands in the guitar effects and voice processing sector, and complement MUSIC Group’s Bugera guitar tube amplifier brand and the Behringer prosumer division.
TC Electronic has also long been established as a leader in broadcast, studio, mastering and production processing. For decades now, Tannoy’s HiFi products continue to win “Best in Class” Awards, and as a result the brand has developed a following of audio enthusiasts around the world.
TC Group’s strong focus on product innovation and IP creation is further demonstrated by their TC Applied Technologies company, which is invested in semiconductor designs, networking and interface technology.
MUSIC Group founder and ceo Uli Behringer commented, “MUSIC Group stands for relentless focus on innovation, business transformation and overall IP creation. 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.”
Tannoy, Lab Gruppen and Lake will now join MUSIC Group’s Midas, Klark Teknik and Turbosound anchor brands to strengthen MUSIC Group’s continued expansion into the professional A/V market. Aimed at delivering complete system solutions to Install and Touring customers.
Uli Behringer continued, “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.”
TC Group’s ceo Anders Fauerskov responded, “We are very honored 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.”