Focusrite CEO Tim Carroll has told PSNEurope that the company “is certainly not done in its M&A journey”, following its acquisition of ADAM Audio earlier this week.
The deal marked the first acquisition by the Focusrite Group since the company went public in 2014. Focusrite founder and chairman, Phil Dudderidge, said of the acquisition of the German studio monitor manufacturer: “I am delighted that we have an important new addition to our family of brands. For the Focusrite Group, the creation and recording of music is everything. With a vision to create the most holistic creative experience for recording professionals and musicians alike, choosing the right high-precision studio monitor brand is key. Together with ADAM Audio we can achieve so much more, removing the technical barriers that frustrate artists seeking to record and reveal their true sound.”
Yesterday, we spoke to ADAM Audio CEO Christian Hellinger about the deal, and today we speak with Caroll to discuss what the acquisition means for the company and the future of the business…
This is the Focusrite Group’s first acquisition. Why now? And why Adam Audio?
We have been looking for companies to acquire that meet our basic criteria: Products and solutions that are complementary to our business, strong cultural fit, well respected brand who like Focusrite, has spent a number of years building their brand and winning customer’s confidence, and a well-run business on their own. Adam Audio was one of those rarities that checked all the boxes.
What are your plans for Adam Audio in the market?
We want them to continue to innovate and bring amazing monitoring solutions to customers. We believe there are a number of opportunities for us to work together and we will begin to explore those areas in a very methodical way as to not disrupt our mutual success.
Will Adam Audio continue to operate independently?
Yes, the management team at Adam will stay in place and continue on with the great work they have done to innovate and bring amazing studio monitors to market.
Will any staff be affected by this deal?
The Adam staff will unfortunately be subjected to British humour, which we apologise profusely for in advance. Beyond that, it’s business as usual.
What does this acquisition mean for Focusrite Group?
This acquisition affords us another way to provide lifetime value for our customers. Our company’s mission is to remove barriers to creativity. Having such an amazing suite of professional monitors in our portfolio certainly adds to the tools we continue to develop to aide in that mission.
Can we expect to hear about more acquisitions in the near future?
While there is nothing to discuss specifically at this time, we are certainly not done in our M&A journey and will continue to seek out and acquire businesses that we believe fundamentally fit our criteria.