CLEVELAND, OH – The Riverside Company, based here, has acquired Westlake Village, CA-based Blue Microphones. Riverside plans to help the company expand globally while deepening its share in all markets, in addition to developing new products.
More details from (http://www.riversidecompany.com/ and http://bluemic.com/):
Firm Seeks To Amplify Growth of Premium Microphone Company
Founded in 1995, Blue began by manufacturing high-performance microphones used by professional artists like Bruce Springsteen, Sting and Coldplay. In 2005, Blue introduced the first professional USB microphone, which was adopted by many consumers for home recording, podcasting and chat. Blue has since developed consumer audio products such as the first THX-certified microphone and a portable microphone for iOS devices. Blue offers 31 distinct products for consumers and professionals.
“Blue Microphones is favored by pros and consumers alike,” said Riverside Managing Partner Loren Schlachet. “Their products are outstanding, and meet a range of requirements for end users needing virtually any type of microphone. We’re really excited to invest in this company.”
Blue Microphones is a recognized and respected brand with a track record of industry-leading innovation. Riverside plans to help the company expand globally while deepening its share in all markets, in addition to developing new products. Blue is poised for steady growth in the global digital microphone market, driven by Skype and consumer-created media.
“Over the past five years, Blue Microphones has launched a whirlwind of innovative new products and expanded distribution globally,” said Blue Microphones CEO John Maier. “Looking forward, Riverside is the ideal partner for Blue to achieve our ambitious expansion goals, both internationally and into new market segments, and I could not be happier to be joining such an accomplished team.”
“Blue has achieved rapid growth in revenue and market share, and we expect to be able to accelerate that growth,” said Riverside Principal Brian Sauer. “The company has a solid management team and a track record of quality and innovation. We’re looking forward to recording the next chapter in their successful history.”
Associate Elaine Ho and Operating Executive – Finance Kim Katzenberger worked with Schlachet and Sauer on the transaction for Riverside. Regional Director, Origination Jeremy Holland originated the deal for Riverside. Riverside Operating Partner and Managing Director Brian Bunker helped perform due diligence on the transaction.
US Bank provided the financing and Jones Day and Deloitte advised Riverside on the investment. Intrepid Investment Bankers, Russ August & Kabat, and Greenberg, Glusker, Fields, Claman & Machtinger advised Blue Microphones in the transaction.
