Bain Capital Plans to Buy D&M and Take It Private

What do Clear Channel, Denon & Marantz, Boston Acoustics and Guitar Center have in common?
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Boston-based private investment firm Bain Capital Partners agreed this month to buy Japanese audio equipment maker D&M Holdings.

Bloomberg put the price tag at $441 million. D&M Holdings’ board has expressed support for the offer that will be made to shareholders.

Bain Capital bought Guitar Center in a separate acquisition last year and has numerous other prominent investments, though it is most familiar to RW readers as one of two firms leading yet another business deal, the buyout offer for Clear Channel, on which those shareholders will vote next month. So if all deals go through, the new part-owner of Clear Channel will also be the parent of a number of major pro audio brands.

D&M is an operating company that encompasses several familiar pro and consumer audio manufacturing names including Denon, Marantz, McIntosh Laboratory, Boston Acoustics, Calrec Audio, Denon DJ, Snell Acoustics, Escient, D&M Professional and D&M Premium Sound Solutions. Bloomberg said the company has been in acquisition mode in recent years, buying Boston Acoustics and, separately, Allen & Heath, as reported here earlier this year.

Bain this month signed a deal with D&M’s largest shareholder and plans to acquire the rest through a tender offer to shareholders. Following completion of the process, D&M Holdings would be delisted from the Tokyo Stock Exchange.

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