Marshall Acquired by Hong Kong's HSG in $920 Million Deal to Expand Global Presence
HongShan Capital Group (HSG) has acquired a majority stake in Marshall Group at a $1.16 billion (€1.1 billion) valuation, marking HSG's largest European investment to date.
Marshall Guitar Amplifier
The Marshall family will retain approximately 20% ownership, while previous investors including Altor, Telia, Time for Growth, and Zenith VC will exit their positions. The deal awaits regulatory approval.
Key Transaction Details:
- Valuation: $1.16 billion (€1.1 billion)
- Marshall family stake: ~20%
- Current revenue: $420 million+ (€400 million)
- Q3 2024 performance: $102.43 million in sales (15% YoY growth)
- Employee count: ~800
Marshall's recent performance shows strong growth, with revenue more than doubling between 2020 and 2024. The company consolidated its operations in 2023, bringing together its amplifier division, Bluetooth speakers, headphones, and artist services under one umbrella.
CEO Jeremy de Maillard stated that the partnership with HSG provides "perfect conditions to continue building on Marshall's iconic status and unlocking our full potential across the world."
The acquisition aligns with growing music industry investment in Asia, following recent moves by major players like Live Nation, Believe, and Universal Music Group in the Greater China region.
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