United Kingdom (March 30, 2023)—UK-based Marshall Amplification has merged with consumer audio manufacturer Zound Industries to form Marshall Group. Marshall amplifiers have been a familiar sight on rock n’ roll concert stages and in recording studios for decades, while Sweden’s Zound Industries is best known for its Urbanears, Adidas and—through licensing—Marshall headphone, earbud and wireless speaker brands.
Under the terms of the deal, Zound Industries will acquire Marshall Amplification and the Marshall family will become the largest shareholder of the newly formed Marshall Group. The deal includes all of Marshall Amplification’s brands and subsidiaries, including Natal Drums, Marshall Records, and Marshall Live Agency.
The Marshall Family will own 24% of the newly formed Marshall Group. Victoria and Terry Marshall – heirs of legendary “Father of Loud” Jim Marshall (d. 2012), who founded the company with his son Terry in 1962 – together with Jim’s granddaughter Joanne Marshall-Price, Paul Marshall and the Marshall Charitable Trust will play key roles within the new entity to ensure the legacy of the famous Marshall sound and brand. Terry and Victoria Marshall will join the board of Marshall Group.
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Marshall and Zounds have a history together, having partnered on Marshall-branded headphones and wireless speakers since 2010; the products are now sold in more than 90 countries.
The newly formed Marshall Group will reportedly start with revenues of more than 360 million USD (last 12 months) with double-digit profitability. Zound Industries delivered two consecutive years of profitable growth. In 2022, net sales rose 44 percent with Zound passing 300 million USD barrier and hitting double-digit profitability with an operating margin of 10.3 percent, equivalent to an operating profit of 30 million USD.
Zound Industries was founded in 2008 by Konrad Bergström and seven other co-founders and in 2013 was awarded the ‘Super Gazelle’ as Sweden’s fastest-growing company in the history of the awards.
Marshall Amplification began in a small Hanwell drum shop in 1962, where founder Jim Marshall and his son, co-founder Terry Marshall, developed their first guitar amp, the JTM45, and went on to become a mainstay in the music world. In 2003, Jim Marshall received an OBE from Buckingham Palace for his services to music and charity. He passed in 2012.
