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Articles July-August 2023

The Accidental Lighting Designer New!

Lloyd Albuquerque, in a conversation with PALM Magazine, reveals his foray and plans as the go-to "light guy" in the pro lighting industry. read more

Articles July-August 2023

The Future Of AV Is Virtual New!

This year's AV-ICN Expo introduced visitors to a reality that is equally virtual and tangible through a walkthrough with VR headsets. read more

Articles July-August 2023

Epson Captures Big Screen Mapping Projector's Demand at AV-ICN Expo New!

Yoshino San shared Epson's strategy, purpose, and exhibit display theme at AV-ICN expo with Chopra San. read more

Articles July-August 2023

Post Show Review: 11th PALM Sound and Light Awards New!

PALM Sound & Light Awards honoured deserving individuals and companies from the pro sound and lighting industry in its 11th edition. read more

Articles July-August 2023

AV-ICN Expo's AV Architect of the Year New!

In a dramatic moment at the 11th PALM Sound & Light Awards, Founder Anil Chopra announced Kelvin Ashby-King the 'AV Architect of the Year' 2023. read more

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Providence Acquires d&b Group from Ardian

Providence Equity Partners ("Providence"), a premier private equity firm specializing in growth-oriented investments in media, communications, education, and technology, announced its acquisition of a majority interest in d&b Group ("d&b") on 10 July 2023 - with the registered name of Cubes Holding GmbH - from Ardian. The existing management team is re-investing and will continue to lead day-to-day operations following completion. Financial terms were not disclosed.

Headquartered in Backnang, Germany, d&b is one of the world's leading providers of professional audio technology and end-to-end Audio, Video, Light & Media ("AVLM") solutions for live entertainment. d&b operates through d&b audiotechnik, which offers high quality audio systems for installation projects and rentals, as well as d&b solutions - which offers comprehensive service solutions across audio, video, lighting, and extended reality.

In the last 10 years, d&b has evolved organically and through acquisitions from a loudspeaker manufacturer to a premier event technology company with over 1,000 employees globally. Select global customers include the Sydney Opera House, Amsterdam Arena, Royal Albert Hall, Wembley Stadium, BBC, and ITV Sport.

Providence has prior experience partnering with innovative businesses specialising in technology and live entertainment solutions in Europe and North America.

The transaction is expected to close by October 31, 2023, subject to necessary and customary closing conditions.

Robert Sudo, Managing Director at Providence, stated, "In our view, d&b bears the hallmarks of a classic Providence investment - it is a business with innovation at its core, 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 can continue its growth trajectory by delivering spectacular experiences to audiences across the globe. With our prior experience investing in live entertainment and technology companies, we believe 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."

Andrew Tisdale, Senior Managing Director at Providence, added, "The needs of customers in live entertainment are becoming ever more complex, which has expanded d&b's addressable opportunities. We were impressed by d&b's passionate management team, and, with Providence's resources and network, we are committed to supporting d&b's strategic plan."

Amnon Harman, Chief Executive Officer of d&b, said, "The global growth trend for events, concerts and major events has continued unchanged after a forced break due to the COVID-19 pandemic. This is accompanied by the increasing professionalization and digitization of these events and thus an increasing need for professional event technologies. As one of the world's leading system providers for audio technology and integrated audio, video, light and media solutions (AVLM) with a comprehensive portfolio of hardware and software technologies, we are perfectly positioned to gain further market share.

Ardian has proven to be a reliable business partner over the past few years. Thanks to their unwavering support, especially during the pandemic, we have been able to innovate during this period of crisis and to emerge stronger from it. 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."

Dr. Alexander Friedrich, Managing Director of Buyouts, and Stefan Kappis, Director of Buyouts at Ardian, said, "We would like to thank Amnon Harman and his team for their hard work, unwavering commitment and, above all, the trust they have placed in us over the past seven years. d&b has an outstanding corporate culture that is embodied by each and every employee. The contribution of all d&b colleagues has been essential to the Group's success, including significant growth, a strategic transformation and strong international positioning. We are proud to have accompanied d&b on this journey together and we wish the entire team and Providence the very best for the next chapter in the company's history."

Alantra and Unicredit served as financial advisors to Providence, and White & Case and Allen & Overy as legal counsel. Intermediate Capital Group arranged financing.


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