Backnang, Germany (July 10, 2023)—U.S.-based private equity firm Providence has acquired d&b group in a buyout from another private equity firm, Ardian, which purchased d&b in 2016. d&b group is the parent company of sound reinforcement manufacturer d&b audiotechnik, as well as service-oriented d&b solutions, which provides audio, video, lighting and xR system planning, installation, maintenance and managed services. Under Providence, d&b expects to strengthen its presence in the professional audio market while also further integrating its capabilities in the Audio Visual, Lighting and Media (AVLM) solutions sector.
Providence has acquired companies in a number of fields related to sound reinforcement—among its holdings are audio/music e-commerce platform Sweetwater; live event/touring engineering solutions provider TAIT; festival and event operator Superstruct Entertainment; events organizer Clairon; and live theater producer Ambassador Theatre Group. Founded in 1989 in Providence, Rhode Island, the similarly titled private equity company has made 170 investments totally more than $35 billion in aggregate private equity capital commitments.
In a statement, Robert Sudo, managing director of Providence, noted, “d&b bears the hallmarks of a classic Providence investment – it is a business with innovation at its core, clear market leadership and loyal customers. d&b’s passionate team has advanced and defined industry standards and exceeded client expectations for the last four decades. We believe d&b will continue its growth trajectory by delivering spectacular experiences to audiences across the globe. With our solid track record of investing in live entertainment and technology companies, we are confident Providence is the ideal partner to support d&b and we look forward to working with Amnon and his hugely talented team to execute our shared vision for the business.”
Amnon Harman, CEO, d&b Group, was also quoted as saying, “We look forward to continuing our successful journey with Providence and cementing our global position as a leader in professional audio and integrated AVLM solutions.”
Details of the transaction were not released other than to note that as part of the transaction, the d&b management team will also acquire a stake in the company in an effort to ensure long-term leadership and strategic continuity.
