By Kalu10551, Ultimate Guitar Writer | “Together with HSG and our team, we can further build on our history to amplify the love for music and the Marshall brand for decades to come.” Chinese private equity firm HongShan Capital Group (HSG) has purchased a majority stake in The Marshall Group.
The deal, subject to regulatory approval, will see HSG pay €1.1 billion (about $1.16 billion), but the Marshall family will retain a stake of more than 20%. The Marshall Group stated that HSG will “work closely with the Marshall family and the management team to strengthen the Marshall brand and fuel its sustainable and profitable growth.”
Terry Marshall stated the following about the acquisition (via Music Business World):
“We are now over 60 years into our journey, and the pioneering sound of Marshall continues to resonate across the world. Together with HSG and our team, we can further build on our history to amplify the love for music and the Marshall brand for decades to come.”
Steve Jia, partner at HSG, praised the Marshall brand, saying:
“By building on this legacy, we are convinced that Marshall will strengthen its position as the go-to brand for guitarists and as the most exciting brand for music lovers globally. We are thrilled to partner with the Marshall family and the team at Marshall to write music history.”
> > > > > > > > > >
Read the rest of the story here:
https://www.ultimate-guitar.com/news/gear/marshall-has-been-acquired-by-chinas-hongshan-in-1-billion-deal/