D&M Holdings Inc. announced today the completion of the acquisition of Allen & Heath Holdings Limited of Penryn, Cornwall, England, a leading designer and manufacturer of audio mixing consoles for professional sound engineers, live sound installations and DJs. The acquisition will be accretive to earnings per share in FY2008.
“The acquisition of Allen & Heath is a strong complement to our Calrec and D&M Pro brands,” said Chairman and Chief Executive Officer Eric C. Evans. “This acquisition broadens our product offerings to our longstanding DJ customer base and expands our business in the professional market into installed live sound.”
Founded in 1969, Allen & Heath supplies digital and analog consoles through a global sales force to a network of distributors in more than 80 countries. The company operates from its Cornwall England manufacturing facility and has more than 150 employees in R&D, sales, marketing, manufacturing and administrative functions. The Company will continue to be led by Glenn Rogers and its current management team.
Recently, Allen & Heath successfully launched iLive, a break through mixing system that features an extremely flexible architecture with distributed audio and control. The iLive system, developed specifically for digital mixing of live sound, is used by bands, clubs and rental companies around the world and has enjoyed immediate market success. Allen & Heath will continue to expand their digital portfolio to meet the growing demand for digital mixers.
“We’re adding another dimension to our position in the professional audio marketplace with this acquisition,” said Evans. “Allen & Heath is a strong brand in the professional live sound performance market and well suited to benefit from the D&M business platform. Like our other premium brands, Allen & Heath can continue to focus on innovation while D&M provides expanded global market reach and other support. We also see useful tie-ins with Calrec, our live-to-air broadcast console brand, and Denon DJ.”