Focusrite plc has announced the acquisition of Martin Audio (Optimal Audio Group Limited) from Lloyds Development Capital (LDC)

Lincoln acted as the exclusive financial advisor to Focusrite, working closely with management and the board to provide advisory and industry expertise.

Martin Audio designs, manufactures and distributes premium professional sound systems across the globe. It is recognised as a market leader and places great emphasis on product design and innovation to sustain and drive growth with a strong product roadmap in place. The acquisition extends the Group’s product offering to new markets and complements its existing offering.

Focusrite plc is a global music and audio products group that develops and markets proprietary hardware and software products. Used by recording professionals and musicians alike, its solutions facilitate the high-quality production of recorded and live sound. The Focusrite Group trades under five established and rapidly growing brands: Focusrite, Focusrite Pro, Novation and Ampify, ADAM Audio and now, Martin Audio.

Martin Audio generated unaudited turnover of £24.4m and EBITDA of £3.4m in the last twelve months to 31 October 2019. The total consideration to be paid is £39.2m. This will be funded through a combination of existing cash resources and a new loan facility of £40 million. The completion of the loan facility, and hence the completion of the acquisition, is dependent upon shareholder approval in a general meeting on 30 December 2019. This is a substantial transaction under the AIM rules. The board expects the acquisition to enhance earnings per share in the current financial year, excluding non-underlying transaction costs, and thereafter.

Alex Masters, Managing Director, and Harry Kalmanowicz, Director, at Lincoln International, commented, “We are delighted to have supported the Focusrite team for the second time in 2019 as they continue to expand into related markets. Lincoln has known Phil Dudderidge, Focusrite’s Chairman, as well as the Martin Audio business since 2012 and we are delighted that these complementary businesses are now coming together, offering a broadened product portfolio to their loyal customer bases.”

Focusrite Martin Audio LDC 2019 Connect with a Senior Team Member
Lincoln has provided hands-on, senior-led guidance throughout the transaction to both the senior executives and board members of Focusrite. We have completed two acquisitions over the course of 2019, both of which would not have been possible without Lincoln’s support.
Tim Carroll
CEO at Focusrite

Meet our Senior Team


Reality Check: Assessing Private Equity’s 2022 Predictions

In Q4 2021, Lincoln International surveyed nearly 400 private equity investors on their expectations for dealmaking in the year ahead. In the three quarters since, public equity markets have seen… Read More

Pet Trends Impacting M&A in 2022

The pet industry has evolved significantly over the past few years with several trends impacting the way pet product brands, manufacturers, retailers, customers and investors view the sector. In 2020,… Read More

Reuters | Beauty and the Inflation Beast

Originally published by Reuters on August 17, 2022 Ashleigh Barker, Director in Lincoln’s Consumer Group, explains why the beauty industry experiences strong resiliency. Click here to read the original article.

Lincoln Private Market Index Experiences First Decline Since Q1 2020

Public market volatility driven by heightened recession fears trickled to private market enterprise values in Q2 The Lincoln Private Market Index (Lincoln PMI), the only index that tracks changes in… Read More

Any information or testimonials contained in this post may not be representative of the experience of other clients and is no guarantee of future performance or success.