RCF Group is to acquire Eastern Acoustics Works (EAW) from Loud Audio LLC, a portfolio company of Transom Capital Group. The move represents the third and final divestiture by Transom, aimed at allowing Loud to narrow its focus to the Mackie brand.
Headquartered in Reggio Emilia and Bologna, and with subsidiaries in the US and Europe, RCF Group operates under the companies RCF and AEB Industriale (dB Technologies) and is now adding EAW to reinforce its status as an international leader in the design, production and sales of products and systems for professional audio and public address installations.
‘Since their early days, the two companies have been very close with RCF supplying professional drivers to EAW,’ says RCF Group CEO, Arturo Vicari. ‘Both brands successfully expanded around the world and their histories were often linked. Finally, we can look at a bright future together. Even though EAW will remain a totally independent company, being part of our group will provide EAW with the necessary investments and focus for a fast and solid growth. We are very proud to have EAW with us.’
For those who love EAW, it is difficult to imagine a better scenario,’ says EAW President, TJ Smith. ‘From the first moment this possibility started to materialise, it has been clear that joining forces with RCF Group is a great opportunity for EAW. This transaction is a true recognition of what the brand represents, its potential, as well as the team we have built over recent years. With gratitude to the long list of those that built EAW over its 40-year history, we look forward to the exciting time in front of us.’
‘While I have truly enjoyed working with all of the brands in the Loud legacy, it's time for us to turn the page and to be entirely focused on building the Mackie brand,’ says Mackie President, Alex Nelson. ‘Our companies have long lived in a conglomeration of brands and I believe going forward all the brands are going to benefit from new found focus, alignment and investment. This last divestiture marks a particularly exciting time for Mackie employees worldwide who are now about to embark on a journey of re-invention and re-vitalization.’
CapM Advisors acted as financial advisor to RCF Group. Studio Legale Chiomenti and Good Procter LLP served as legal counsel to RCF Group. Latham & Watkins LLP served as legal counsel to Loud and Transom Capital Group. ‘We are very happy to have found a great new owner for the EAW brand and wish everyone involved much success going forward,’ adds Ty Schultz, Managing Partner at Transom Capital Group.
