RCF Group, one of the fastest growing group in the Pro Audio market today announced that it is acquiring Eastern Acoustics Works (EAW), an iconic company in the history of Install and Touring sound headquartered in Whitinsville,MA from LOUD Audio LLC, a portfolio company of Transom Capital Group.
RCF Group, with Headquarters in Reggio Emilia and Bologna and subsidiaries in USA and Europe, operates under the companies RCF and AEB Industriale (dB Technologies) and is now adding EAW company to further become an international leader in designing, producing and selling products and systems for professional audio and public address installations.
Arturo Vicari, CEO of RCF Group stated, "Since their early days, the two companies have been very close with RCF supplying professional drivers to EAW. Both brands successfully expanded around the world and their histories were often linked. Finally, we can look at a bright future together. Even though EAW will remain a totally independent company, being part of our group will provide EAW with the necessary investments and focus for a fast and solid growth. We are very proud to have EAW with us."
"For those who love EAW, it is difficult to imagine a better scenario," stated TJ Smith, President of EAW. "From the first moment this possibility started to materialize it has been clear that joining forces with RCF Group is a great opportunity for EAW. This transaction is a true recognition of what the brand represents, its potential, as well as the team we have built over recent years. With gratitude to the long list of those that built EAW over its 40-year history, we look forward to the exciting time in front of us."
CapM Advisors acted as financial advisor to RCF Group. Studio Legale Chiomenti and Good Procter LLP served as legal counsel to RCF Group. Latham & Watkins LLP served as legal counsel to LOUD and Transom Capital Group.
About RCF Group
RCF Group, with companies and subsidiaries located in USA and Europe, is a leading player in the Pro Audio industry, designing, manufacturing and distributing an extensive range of professional audio solutions in the retail, install and touring market. With a history dating back to 1949, the passion of its 500 employees and the focus on continual technical innovation, RCF Group products and solutions are successful in over 130 countries around the world.
EAW has designed and manufactured premium professional loudspeaker systems and electronics since 1978. Its products are used throughout the world to support performances and sporting events in stadiums, arenas, outdoor venues, houses of worship, and theaters. Over its 40-year history the brand has introduced several significant innovations in loudspeaker technology by leveraging expertise in acoustics, digital signal processing, and software control.
About LOUD Audio
As the corporate parent for the world-recognized Mackie® brand, LOUD engineers, markets and distributes a wide range of professional audio and musical instrument products worldwide. Its product lines include sound reinforcement systems, analog and digital mixers, and studio products. These products can be found in professional and project recording studios, video and broadcast suites, post-production facilities, and sound reinforcement applications, including houses of worship, stadiums, nightclubs, retail locations, and on major musical concert tours. LOUD distributes its products primarily through retail dealers, mail order outlets and installed sound contractors. The Company has its primary operations in the United States with operations in the United Kingdom, Canada and China.
About Transom Capital Group
Transom is a leading operations-focused private equity firm in the middle market with more than $500M in assets under management. The firm’s functional pattern recognition, access to capital, and proven ARMOR℠ Value Creation Process combine with management’s industry expertise to create improved operational efficiency, significant top-line growth, cultural transformation and overall distinctive outcomes. Transom is headquartered in Los Angeles, California with an additional office in Seattle, Washington.