Paris-headquartered private equity firm Astorg has acquired Audiotonix, the parent firm of Calrec, Allen & Heath and Digico.
Astorg acquired the console manufacturers for £203m from Epiris, a private equity fund manager acting for Electra Private Equity.
Allen & Heath, Calrec and DiGiCo consoles handle live sound for concerts, TV broadcasting, theatre shows and major live events.
Epiris invested £42 million on Electra’s behalf in the acquisition of Allen & Heath in 2013.
That was followed in March 2014 by the acquisition of Calrec.
Epiris partner Charles Elkington said: “Through structured investment across three valuable brands we have created a global market leader with strong growth prospects.
“When we made the initial investment we had a clear strategy based on M&A, operational improvement and strategic focus.
“We have delivered this with two add-on acquisitions, a reorganised supply chain, and successful investment in sales and marketing as well as new product development. As a result the business has more than quadrupled earnings since 2013.”
Audiotonix chief executive James Gordon added: “We are delighted to partner with Astorg who have demonstrated an impressive understanding of our business and our core strengths.
“With their support, we aim to leverage our manufacturing know-how, capture worldwide development opportunities and further enrich our product portfolio with exciting innovations for our international customer base.”
The deal is expected to close by the end of March.