A Sound Deal: Dallas' Highlander Partners Sells McIntosh Group to Bose Corp.
Ever listen to music through your phone's tiny speakers? Or crank tunes by popping $50 buds in your ears? Or play tracks on a Bluetooth speaker the size of a juice can? Then you're missing something: the amazing, jaw-dropping, shockingly pricey sound of audiophile-quality music.
You could hear a pin drop, if it weren't for today's earth-shattering audio news: McIntosh Group—parent company of some of the world's highest-end luxury audio brands, including McIntosh and Sonus faber—has been acquired from the Dallas-based private investment firm Highlander Partners by Bose Corporation. Terms of the deal were not disclosed.
You may have been wowed by Bose speakers at Best Buy. But if you don't know McIntosh, you don't know what your ears have been missing. The company's ultra-luxe equipment still relies on vacuum tube technology from yesteryear—updated with today's latest cutting-edge technology (as seen in the photo above).
$1 million sound system
How high-end are we talking?
Last January, 75-year-old McIntosh and its Italian sister brand Sonus faber debuted a $1 million anniversary sound system at CES 2024.
Too rich for your blood? How 'bout a pair of speakers? You could buy two McIntosh XRT2.1K Floorstanding Loudspeakers for just $140,000 . (That's $151,550 with tax, but delivery is free.)
Hearing Jelly Roll's "I Am Not OK" on those speakers could make you feel very much more than OK, once your eargasms subside. But guess what might spoil it? Hearing the same track over Sonus faber's $750,000 Suprema 2.2 speaker system , featuring 242-pound speaker towers with leather panels made by Italian furniture brand Poltrona.
That's how high-end we're talking.
Parting with legendary audio brands
"McIntosh is a legendary American brand, and Sonus faber is the definition of fine art in the audio world," Jeff Hull, president and CEO of Highlander Partners, said in a statement. "We're honored to have been stewards of these businesses. We're proud of what we accomplished and believe McIntosh and Sonus faber have tremendous growth potential. We're excited to watch these brands reach new heights under Bose's ownership."
Uniting 'more than 175 years of combined, deep technical expertise'
Bose said the acquisition "unites industry pioneers with more than 175 years of combined, deep technical expertise, a dedication to craftmanship and artistry, and an unwavering commitment to reaching passionate music fans around the world."
The deal will allow Bose to infuse its "industry-leading" audio research and technology into the high-performance and luxury space, the company said, while it continues to build on its premium solutions. Bose and McIntosh Group will now offer consumers "a breadth of products and experiences for every listening occasion," the company added.
"Over the last six decades we've delivered the best premium audio experiences possible; now, with McIntosh Group in our portfolio, we can unlock even more ways to bring music to life in the home, on-the-go and in the car," Bose CEO Lila Snyder said in a statement. "We look forward to honoring the heritage of these brands, investing in their future, and pushing the boundaries of audio innovation to bring customers experiences they've never heard before."
Daniel Pidgeon, CEO of McIntosh Group, said Bose's dedication to research and singular focus on audio "provides a tremendous opportunity to complement and enable our own pursuit of delivering inimitable, ultimate-quality audio experiences."
"Gaining access to their expertise as a pioneer in automotive audio will also help us accelerate our presence and enable us to deliver solutions that are commensurate with our reputation and performance standards," Pidgeon added in a statement.
Katten acted as Highlander's legal counsel in connection with the transaction, with Adacta serving as legal and tax advisors in Italy.
About Highlander Partners
Operating out of The Crescent in Uptown Dallas, Highlander Partners says it has more than $3 billion in assets under management, and focuses on investing in businesses in targeted industries in which the principals of the firm have significant operating and investing experience. The firm says its "buy-and-build" investment approach creates value by helping companies grow both organically and through acquisitions.
