The future of audio console manufacturer Fairlight has been secured after management bought the assets to the company, writes Kevin Hilton.
Former senior vice-president of worldwide sales John Lancken put together a deal in which he and four partners buy the assets, brand, trademarks, patents and software of the digital audio workstation manufacturer.
The company's future was in doubt after its Australian parent went into administration in March. The manufacture of the current product range and development of new products was due to start this month in new premises in Sydney.
This is not the first time Fairlight has been through financial and operational difficulties. Lancken, who will become chief executive and a major shareholder in the revitalised company, has put the most recent difficulties down to the high overheads of running overseas subsidiaries and acquiring other companies.
Many of the company's former international offices have now established themselves as independent businesses.
In the UK, technical support for Fairlight products will be maintained by Tekcare, headed by former Fairlight UK technical director Graham Murray. The news will doubtless come as a relief to the growing number of post-production facilities in the UK that are either long-term customers or had made the move from other manufacturers.
The new company has retained key members of the existing R&D, manufacturing, administration and sales and marketing teams. It will soon announce a suite of software upgrades for the Dream product range.