Latin America. Bose Corporation announced the sale of the Bose Professional division to Transom Capital Group, a private equity firm focused on operations. Through this agreement, Transom will assume ownership of Bose Professional's audio conferencing and commercial facilities businesses. Portable PA systems will remain part of Bose's core consumer products business.
For more than 50 years, Bose Professional has developed easy-to-design, install and operate audio systems for high-performance, commercial and conferencing applications and has worked with AV integrators, installers, consultants and system designers to deliver these unforgettable audio experiences.
Today, its systems can be heard all over the world: in workplaces, religious temples, universities, restaurants, retail stores, hotels, performing arts centers, stadiums, and much more.
"We are proud of Bose Professional's accomplishments: its legacy in the professional AV market and the diverse list of fascinating installations it has made around the world," says Lila Snyder, CEO of Bose Corporation. "The sale to Transom will give Bose Professional the extra attention it needs to support the professional audio customer and continue to develop products and technologies that stand out in the industry. It will also allow Bose to focus squarely on our core business: creating incredible audio experiences for use at home, in the car and on the go."
"Bose Professional's stability in the professional audio business, its outstanding portfolio of products and customers, and its team dedicated to researching, engineering and creating new and innovative products made this division attractive to incorporate into our portfolio," says Russ Roenick, founder and managing partner of Transom. "We are working closely with Bose to ensure the continuity of Bose Professional's business well into the future and look forward to its continued success as an independent company."
"We're excited about the new opportunities it will allow us to explore," says Michael Bennett, CEO of Bose Professional. "Our customers are the main reason we develop systems that are easy to design, install and operate. As the professional AV industry continues to evolve, we're focused on ways to help our customers be more successful and pave the way for incredible sound."
Progress Partners acted as exclusive financial advisor to Bose in connection with the sale. Additional transaction information, including financial and other terms, will be kept confidential.
