Marshall Acquired by Hong Kong's HSG in $920 Million Deal to Expand Global Reach
Marshall Group has sold a majority stake to Hong Kong's HongShan Capital Group (HSG) in a deal valuing the company at $1.16 billion (€1.1 billion).
Marshall Guitar Amplifier
The Marshall family will retain approximately 20% ownership, while previous investors including Altor, Telia, Time for Growth, and Zenith VC will exit their positions. This marks HSG's largest European investment to date.
Key Points of the Deal:
- Valuation: $1.16 billion (€1.1 billion)
- Marshall family retains ~20% ownership
- Subject to regulatory approval
- HSG owns stakes in Alibaba, ByteDance, and other major companies
Recent Marshall Performance:
- Revenue doubled between 2020-2024 to over $420 million
- Q3 2024: $102.43 million in net sales (15% YoY growth)
- Adjusted operating profit: $27.82 million (29% YoY growth)
- Current employee count: ~800
Strategic Developments:
- Consolidated operations in 2023, combining amplifier division with Bluetooth speakers, headphones, and artist services
- Expanding presence in the growing Asian market
- Focus on global brand growth and development
"Together with HSG and the Marshall family, we have the perfect conditions to continue building on Marshall's iconic status and unlocking our full potential across the world," said Marshall Group CEO Jeremy de Maillard.
Terry Marshall, board member and co-founder, emphasized that the deal will help "build on our history to amplify the love for music and the Marshall brand for decades to come."
The acquisition positions Marshall for significant expansion in the Asian market, particularly in China and Hong Kong, where the music industry continues to show strong growth potential.
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