Bose Corporation Announces Sale of Bose Professional to Transom Capital
LOS ANGELES, April 11, 2023 (GLOBE NEWSWIRE) — Today, Bose Corporation, a US-based multinational company and global leader in audio systems, has announced the sale of the Bose Professional Division to Transom Capital Group (“Transom”), a leading operations-focused middle market private equity firm. 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.
For more than 50 years, Bose Professional has developed audio systems that are easy to design, install and operate for performance, commercial and conferencing applications, and has worked with AV integrators, system designers, installers and consultants to deliver these unforgettable audio experiences. Today, its systems can be heard worldwide – in workplaces, houses of worship, universities, restaurants, retail stores, hotels, performing arts centers, stadiums and more.
“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,” said Lila Snyder, CEO of Bose Corporation. “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.”
“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,” said Russ Roenick, Founder and Managing Partner at Transom. “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.”
“We’re excited about the new opportunities this will enable us to explore,” said Michael Bennett, CEO of Bose Professional. “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.”
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.
About Bose Corporation
Bose is world renowned for its premium audio solutions for the home, on the go, and in the car. Since its founding in 1964 by Dr. Amar Bose, the company has been dedicated to delivering amazing sound experiences through innovation. And its passionate employees — engineers, researchers, music fanatics, and dreamers — have remained committed to the belief that sound is the most powerful force on earth; its ability to transform, transport, and make us feel alive. For nearly 60 years, this belief has driven us to create products that have become iconic, changing the way people listen to music.
About Transom Capital Group
Transom is an operations-focused private equity firm in the middle market with a deep track record of successfully executing corporate divestitures. The firm’s functional pattern recognition, access to capital, and ARMORSM Value Creation Process combine with management’s industry expertise to create improved operational efficiency, significant top-line growth, cultural transformation and overall distinctive outcomes. Transom is headquartered in Los Angeles, California.
About Bose Professional
Founded on the belief that innovation begins with exploration, Bose Professional is dedicated to delivering the simplest path to incredible sound. The company’s spirit of invention is focused on creating systems that are easy to design, install, and operate for performance, commercial, and conferencing applications. These systems can be heard all around the world, in workplaces, houses of worship, universities, restaurants, retail stores, hotels, performing arts centers, and more. For more than 50 years, Bose Professional has partnered with AV integrators, system designers, installers, and consultants to build unforgettable audio experiences.
Media Contact
Sam Butler for Transom Capital Group
sam@35thAvenuePartners.com
