LOUD Technologies Aquires St. Louis Music
From a press release on LOUD’s site, LOUD Technologies (OTC LTEC.OB), (Mackie, EAW, et al) aquired privately held St. Louis Music (Ampeg, Crate) as an indirect wholly owned subsidiary for US$38.4 million in cash and stock. I think this signals that Sun Capital Partners, the turnaround specialists that bought a controlling share of Mackie (later rebranded as parent company LOUD Technologies) have turned the corner from being at deaths door to starting to grow the company again. I bet we see at least one other interesting announcement from LOUD before the year’s end.