(Bloomberg) — Hongshan Capital Group has agreed to buy Marshall Group Inc.’s majority stake in the audio equipment maker in a deal valued at about $1.1 billion.
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The founding Marshall family will retain a more than 20% stake in the Stockholm-based company, whose guitar amplifiers have been used by rock legends including Jimi Hendrix and Eric Clapton, according to a statement on Friday. The announcement confirmed an earlier report in Bloomberg News that Hongshan, the investment firm formerly known as Sequoia China, was closing in on a Marshall deal.
Hongshan is a venture capital and private equity firm that invests in the technology, healthcare and consumer sectors. Since its founding in 2005, it has supported more than 1,500 companies, including Alibaba Group Holding Ltd. And BYD Co., Ltd. and Bytedance Ltd. , its website offers.
This transaction, which is subject to regulatory approvals, will mark Hongshan’s largest investment in Europe to date. The company manages more than $55 billion in assets.
Marshall, an audio, technology and design group, traces its roots back to 1962 in the United Kingdom, according to its website. Its products range from amplifiers to headphones and wireless speakers. It has a presence in more than 90 markets.
Marshall was acquired by closely held Swedish company Zound Industries in 2023, while the founding Marshall family remained a shareholder. The transaction also included Natural Drums, Marshall Records and Marshall Live Agency.
(Adds details about previous owners in final paragraph)
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