International. Providence, a private equity firm focused on media, communications, education and technology, announced a major investment in d&b Group, owner of the d&b audiotechnik and d&b solutions brands.
With Providence's support, d&b plans to further strengthen its position in the professional audio market while further integrating its capabilities into the audio-visual, lighting and media solutions (AVLM) sector.
As part of the transaction, d&b's management team will also acquire a stake in the company, ensuring long-term leadership and strategic continuity. The parties agreed not to disclose the details of the transaction, and the conclusion of the transaction is subject to approval by the relevant antitrust authorities.
Founded in 1981 and headquartered in Backnang, Germany, d&b is one of the leading providers of premium professional audio technology ("d&b audiotechnik") and, in recent years, has expanded the business to integrated AVLM solutions ("d&b solutions"). Since the acquisition of the company by leading private equity firm Ardian, d&b's previous owner, in 2016, sales have tripled. The number of employees also increased considerably from 350 in 2016 to a global team of more than 1000 with offices in major cities around the world.
"The global growth trend of events, concerts and large events has continued unchanged after a forced pause due to the COVID-19 pandemic. This is accompanied by a growing professionalization and digitization of these events and therefore a growing need for professional event technologies. As one of the world's leading system providers for audio technology and integrated audio, video, light and media (AVLM) solutions with a comprehensive portfolio of hardware and software technologies, we are perfectly positioned to gain greater market share," said Amnon Harman, CEO, d&b Group.
Robert Sudo, CEO of Providence, said: "d&b has the hallmarks of a classic Providence investment: it is a business with innovation at its core, clear market leadership and loyal customers. The passionate team at d&b has advanced and defined industry standards and exceeded customer expectations over the past four decades. We believe d&b will continue its growth trajectory by delivering spectacular experiences to audiences around the world. With our strong track record of investing in technology and live entertainment companies, we are confident that Providence is the ideal partner to support d&b and look forward to working with Amnon and its hugely talented team to execute our shared vision for the business."
