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B&C buy out Eighteen Sound

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fat_brstd View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote fat_brstd Quote  Post ReplyReply Direct Link To This Post Topic: B&C buy out Eighteen Sound
    Posted: 05 October 2017 at 11:27pm
For 7.4 million euro. Interesting times ahead.

Here is the source although the link doesnt seem to work quite right -
http://nzp.me/a/GO/EJJ

Copy/Paste of the article:

B&C takes the wheel at Eighteen Sound
October 03, 2017
Lorenzo CoppiniEighteen Sound's factory in CavriagoLorenzo CoppiniEighteen Sound's factory in Cavriago
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WORLD: B&C Speakers SpA has formalised a binding offer to wholly acquire Eighteen Sound from Landi Renzo Group for a total of €7.4 million before 30 November 2017. For the year ending 2016, the Eighteen Sound and Ciare brands reported a turnover of around €12.6 million with a gross margin of €0.9 million.

With a history of 60 years, the acquisition will allow B&C Speakers to consolidate its leadership position in the professional transducer market. ‘We have always greatly respected both the products and the team at Eighteen Sound and we are sure that this integration will lead to extremely consistent results,’ commented CEO of B&C Speakers, Lorenzo Coppini. ‘The brands of B&C Speakers, Eighteen Sound and, not to forget Ciare, are really complementary. In the short term we will be able to offer the audio market a complete and structured range of speakers, from the core business of pro audio to new sectors such as home entertainment, hi-fi and car audio. We are confident that we can maintain and improve the group heritage of innovation and Italian quality manufacturing that are essential characteristics of our group.’

Eighteen Sound was created in the wake of the 1998 sale of RCF to Mackie Designs (Loud Technologies) when AEB directors Ivan Paterlini and Vincenzo Baroni decided to diversify their electronic automotive control systems business by branching out into the professional loudspeaker market. Today, its facility consists of two highly automated manufacturing lines for cone drivers together with one for high frequency compression drivers. Under its current owner, Landi Renzo, Eighteen Sound relocated to larger premises in Cavriago in 2013 before acquiring fellow Italian transducer manufacturer Ciare in 2015. ‘This is another step in the implementation of the new strategic plan, such as the disposal of non-core activities including Eighteen Sound, allowing us to better focus on automotive and gas distribution segments,’ explained Landi Renzo CEO Cristiano Musi.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote AJ113 Quote  Post ReplyReply Direct Link To This Post Posted: 06 October 2017 at 12:33am
"...new strategic plan, such as the disposal of non-core activities including Eighteen Sound..."Do I read that correctly, they're going to ditch Eighteen Sound?
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Pasi Quote  Post ReplyReply Direct Link To This Post Posted: 06 October 2017 at 12:43am
Originally posted by AJ113 AJ113 wrote:

"...new strategic plan, such as the disposal of non-core activities including Eighteen Sound..."Do I read that correctly, they're going to ditch Eighteen Sound?


That's the current owner and hence they sell it to B&C.

Shame.

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Post Options Post Options   Thanks (0) Thanks(0)   Quote MarjanM Quote  Post ReplyReply Direct Link To This Post Posted: 06 October 2017 at 9:35am
7.4 mill, doesn't seem like much. 
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Post Options Post Options   Thanks (0) Thanks(0)   Quote kevinmcdonough Quote  Post ReplyReply Direct Link To This Post Posted: 06 October 2017 at 10:08am
Originally posted by MarjanM MarjanM wrote:

7.4 mill, doesn't seem like much. 

It's a niche business. 

While we're obsessed with good sound and using top quality drivers (LOL), and there are lots of pro companies all over the world who I'm sure use eighteensound in their products, I best the vast number of PA speakers sold are still very much in the lower end of the market to DJs and the like, or the medium end with cabs like DSR or QSC ranges to bands etc.

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Post Options Post Options   Thanks (0) Thanks(0)   Quote Brutus Quote  Post ReplyReply Direct Link To This Post Posted: 06 October 2017 at 10:35am
indeed, 7,4mill doesnt sound like a big number... expected to be bigger
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Post Options Post Options   Thanks (0) Thanks(0)   Quote sgarfa Quote  Post ReplyReply Direct Link To This Post Posted: 06 October 2017 at 11:03am
It does not seem like a nice move ... the 18sound was one of the few active societies in the group .. its  only a recapitalizing move... 
rcf will be worried 
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Earplug Quote  Post ReplyReply Direct Link To This Post Posted: 06 October 2017 at 11:55am
I do like 18Sound speakers. First class manufacturing there. Let´s hope it´s not the end for them, but I do fear the worse.  Unhappy


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Post Options Post Options   Thanks (0) Thanks(0)   Quote Brutus Quote  Post ReplyReply Direct Link To This Post Posted: 06 October 2017 at 12:50pm
yep, and again... we fear for the Caire SW drivers.... hopefully they wont kill production :(
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Post Options Post Options   Thanks (0) Thanks(0)   Quote levyte357- Quote  Post ReplyReply Direct Link To This Post Posted: 06 October 2017 at 3:02pm
Originally posted by Brutus Brutus wrote:

yep, and again... we fear for the Caire SW drivers.... hopefully they wont kill production :(


Maybe this would stop people putting Car woofers into PA cabs..LOL
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Andy Kos Quote  Post ReplyReply Direct Link To This Post Posted: 07 October 2017 at 10:26am
There will some changes for sure, but I expect in the long term rather than short term. You don't pay 7.4 million euros for a company and not try to get a profit out of it.

and although not a huge sum, 7.4 million is fairly significant, and I believe one of the reasons the parent company wanted to sell 18sound is that it wasn't particularly profitable. 7.4 million probably reflects the low profitablility and most of what is being sold is the IP and brand name.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote levyte357- Quote  Post ReplyReply Direct Link To This Post Posted: 07 October 2017 at 12:02pm
Originally posted by Andy Kos Andy Kos wrote:

There will some changes for sure, but I expect in the long term rather than short term. You don't pay 7.4 million euros for a company and not try to get a profit out of it.

and although not a huge sum, 7.4 million is fairly significant, and I believe one of the reasons the parent company wanted to sell 18sound is that it wasn't particularly profitable. 7.4 million probably reflects the low profitablility and most of what is being sold is the IP and brand name.


Andy, does this mean you will be selling 18sound products?

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