Live Technologies has announced that an agreement has been reached with A & S Investment Group, LLC to support and facilitate future growth and development of the company. A&S has obtained majority ownership of Live Technologies.
A&S is a Columbus, Ohio-based equity investment firm dedicated to identifying quality profitable businesses and assisting them in growing revenues, refining procedures, and building profitability for the shareholders and company associates. A&S is comprised of Larry Abbot and Mike Stoner.
Live Technologies traces its roots back to 1974 when Dave Mead formed Sound Advocate, providing audio services in the central Ohio area. In 1979, present-day owner Rusty Ranney formed his lighting company, Lighting Masters and partnered with Mead and Sound Advocate to offer the combined services for national touring accounts, and built a large festival, corporate, and concert clientele, thereby formalizing the partnership in 1988. Over the years, this partnership became an industry leader in event production services, and began to provide permanent audio/visual installation services in the mid-1990s. Video equipment rentals and digital media production were later added to the company’s list of services.
Rusty Ranney will remain a principal shareholder and will continue to operate the company under the new title of president/CEO. Mead, as a continued part of his succession and estate planning, is selling the majority of his stake but will retain an active role as the business development associate. Other long-time shareholders Shawn Loevenguth, Steve Quinn, and Mark Merchant will continue their participation and are taking the opportunity to increase their stake in the company.
The current management group will continue as the active operating partners of the company, with the addition of Mike Stoner as the chairman of the Board who will serve in an active board role. Additionally, the corporate structure of Live Technologies will change from a C-Corp to an LLC and will therefore drop the “Inc.” from the corporate name (formerly Live Technologies, Inc.).
“We work in an industry that provides a great deal of choices for our clients, and as such, will require continued dedication to providing the highest levels quality of creativity and execution. Those abilities and the commitment to customer service has brought us to where we are today, and to climb to the next level we will have those laurels to give us credibility, but we do not expect to rest on them,” says Rusty Ranney as he guides Live Technologies into this exciting new phase.
Currently the Systems Integration Division completes approximately 100 custom installations annually, while the Rental & Production Division executes over 900 live events per year. Named one of America’s Fastest Growing Companies by Inc. 5000 last year, and 6-time winner of the Consumers’ Choice Award, Live Technologies employs 80 full-time associates and recorded $9.2 million in revenue in 2007.