High Wycombe, UK (August 22, 2019)—A year after Martin Audio underwent a management buyout, the loudspeaker manufacturer has reported a 22 percent increase in sales in its financial year 2017-18, growing from £16.5 million to £20.1 million ($20.2 million to $24.6 million) and now says it expects a further 20 percent increase throughout 2019.
Martin Audio was backed by LDC in 2018, in a management buyout from global audio specialist Loud Audio. As part of the deal, LDC invested £12 million in the company, alongside its existing management team.
The company attributed the YoY growth largely to a series of product launches and overseas expansion. Over the same period, Martin Audio has added a number of global rental clients to its roster, including US-based Soundworks, Southard Audio and Twilight Audio which were part of efforts to consolidate the brand’s footprint in North America, where it is now established as a direct distributor.
The brand has also launched 15 new products over the past 12 months and extended its scalable acoustic technology offering. In keeping with the rise of output, Martin Audio has invested in developing teams, processes and enhancing its computer software and ERP systems, as well as recruiting a new finance department from scratch.
Dom Harter, managing director of Martin Audio, said: “This has been a significant year for Martin Audio, with a series of key product launches to help us continue providing incredible audio experiences to our customers. We’ve also laid the groundwork for future growth by enhancing key business functions and ensuring we have the best possible team in place.
“LDC has backed our plan from the beginning and has played a key role in helping us set the wheels in motion, offering us the flexibility we needed and directly supporting our recruitment efforts. We’re now looking to build on the momentum we have created to expand our offering even further and become a major player in the market.”
Martin Audio • https://martin-audio.com