Audio equipment manufacturer Sound United has completed its acquisition of D+M Group, which owns the Denon, HEOS by Denon, Marantz and Boston Acoustics brands. With the closing of the purchase, Sound United has been renamed, dropping the “LLC” as it adds the various D+M holdings to the audio brands it already owns, which include Polk Audio, Definitive Technology and Polk BOOM.
Kevin Duffy, CEO of Sound United, will serve as CEO of the combined company moving forward. “Sound United and the D+M Group employees share a culture of innovation and customer focus,” said Duffy. “We welcome the addition of the D+M team and are excited to work together to ensure that this strategic combination capitalizes on its global leadership position while also ensuring that each of our individual brands continues to be highly differentiated in the marketplace.”
D+M Group CEO Jim Caudill, who will continue as an advisor to the consolidated company, added, “This transaction is a testament to D+M Group’s employees and exceptional brands and all that we’ve accomplished in the audio industry.” D+M Group has approximately 900 employees worldwide, with products and services marketed in more than 45 countries.
Caudill added, “We believe that this transaction will drive compelling opportunities for our employees, customers, and suppliers, and are looking forward to ensuring the success of the new organization.”
D+M Group rebranded from D+M Holdings in 2012 as part of an aggressive corporate makeover that included major shakeups across its top brass, a reorientation towards consumers through packaging and branding, jumping into new product markets such as headphones, and reducing its independent rep count from 32 to 18 at the time.
Sound United is a division of DEI Holdings, a portfolio company of Boston-based private equity firm Charlesbank Capital Partners LLC. Charlesbank acquired DEI Holdings in 2011.