Bose Corporation has announced the sale of the Bose Professional Division to Transom Capital Group (Transom), a leading operations-focused middle market private equity firm.
Progress Partners acted as Bose’s exclusive financial advisor in connection with the sale. Additional information, including financial and other terms of the transaction, will remain confidential.
With this deal, Transom will assume ownership of the Bose Professional commercial installation and conferencing businesses. Bose will retain its portable PA systems as part of its core consumer product business.
Lila Snyder, CEO of Bose Corporation, said: “We’re proud of what Bose Professional has accomplished – its legacy in the professional AV market and the diverse list of amazing installations it has completed all over the globe. The sale to Transom will provide Bose Professional the additional attention it needs to support the professional audio customer, and to continue to develop products and technologies that stand out in the industry. It will also allow Bose to focus more deeply on our core business – creating amazing audio experiences for on-the-go, at home and in the car.”
Russ Roenick, founder and managing partner at Transom, said: “Bose Professional’s tenure in the professional audio business, its standout product portfolio and customers, as well as its team dedicated to researching, engineering and delivering new and innovative products, made it a compelling business for us to bring into our portfolio. We are working closely with Bose to ensure business continuity for Bose Professional going forward, and we look forward to continued success for the business as an independent company.”
Michael Bennett, CEO of Bose Professional, said: “We’re excited about the new opportunities this will enable us to explore. Our customers are the key reason we develop systems that are easy to design, easy to install and easy to operate. As the pro-AV industry continues to evolve, our focus is on ways to help our customers be more successful and clear the path to great sound.”