Sound United, parent company to Polk Audio, Definitive Technology and Polk BOOM, today announced it has completed the acquisition of the D+M Group, which owns the Denon, HEOS by Denon, Marantz and Boston Acoustics brands.
The combined company will be known as Sound United, providing synergy opportunities for the existing core businesses and unlocking the potential to expand the product portfolio and market reach.
Sound United CEO Kevin Duffy will serve as CEO of the combined company moving forward, while D+M Group CEO Jim Caudill will continue as an advisor.
“Sound United and the D+M Group employees share a culture of innovation and customer focus. We plan to leverage those core values in the combined company in order to offer consumers and our channel partners a breadth of complementary products while expanding our investments in technology development and marketing,” said Kevin.
“We welcome the addition of the D+M team and are excited to work together to ensure that this strategic combination capitalizes on its global leadership position while also ensuring that each of our individual brands continues to be highly differentiated in the marketplace. Our existing customers and channel partners will benefit from the enhanced breadth and depth of the combined product portfolio, while our strategic suppliers should be well-positioned to expand with us as we grow.”
“This transaction is a testament to D+M Group’s employees and exceptional brands and all that we’ve accomplished in the audio industry. By joining Sound United, we expect to deliver tremendous value to our customers through access to Sound United’s speaker brands including Polk Audio and Definitive Technology. We believe that this transaction will drive compelling opportunities for our employees, customers, and suppliers, and are looking forward to ensuring the success of the new organization,” added Jim.
Sound United is a division of DEI Holdings, a portfolio company of Boston-based private equity firm Charlesbank Capital Partners, LLC. Charlesbank acquired DEI Holdings in 2011.
“We are delighted to support the expansion of Sound United and to help bring together two leading companies in their respective categories,” said Charlesbank managing director Ryan Carroll.
“We look forward to a successful integration building on the cultural similarities, talent, and best practices of these two companies and to a stronger future as one entity.”