ISIS invests in Martin Audio Limited

ISIS Equity Partners plc (ISIS) is pleased to announce the completion of the management-buy-out of Martin Audio Limited (MA) for an undisclosed sum. MA designs, assembles and distributes a range of high-end speaker systems for use in the touring and theatre markets, and in prestigious installations such as stadium, cinemas, bars and nightclubs. The company has a long established reputation in its markets providing sound systems for use by bands such as Pink Floyd, Texas and the Stereophonics, with other projects including Leeds United FC stadium, the Excel Exhibition centre, The Ministry of Sound and Fabric nightclubs. The Company also enjoys a global presence with around 40 distributors world-wide. MA is based in High Wycombe and employs 40 staff. Turnover in the current year is c. £10m. Royal Bank of Scotland plc provided term, debt and working capital facilities, to support the transaction. David Bissett-Powell, Chief Executive of MA, stated: "The growth of the last five years has been achieved by building a strong team who are passionate about the business. The management-buy-out, with the backing of ISIS, allows this team greater independence to develop and support products for the benefit of Martin Audio's growing customer base." Liz Jones, ISIS Equity Partners' Investment Director, who led the transaction together with Shani Zindel, said: "MA has a first class track record in its marketplace, driven by a combination of technical excellence and world-wide reputation. The buy-out will enable the team, led by David Bissett-Powell, to consolidate these achievements and continue to develop the portfolio of products and Martin Audio's global position." Kevin Whittle, Portfolio Director in ISIS Equity Partners' Portfolio Management team, has been appointed to the MA Board to represent ISIS.

Published: 04 September, 2003