An independent commercial finance company, Siena Lending Group, announced last week that it has worked with North Mill Capital to close on a three-year asset-based revolving credit facility in the amount of $25 million with D&M Holdings, Inc. and D&M Canada, Inc. Siena says that the funds will support D&M’s growth and their “seasonal working capital requirements.” It will also, apparently, help Denon grow their HEOS line. Why do we say that? Read on…
The legal battle in the patent infringement case filed by Sonos, Inc. (Sonos) against D&M Holdings, Inc. dba The D+M Group, D&M Hodlings U.S. Inc., and Denon Electronics (USA), LLC (D&M) continues to heat up as lawyers launch new salvos against each other alleging – among other things – improper actions. In February, we reported that D&M’s legal team had filed a Motion to Disqualify the Sonos legal team, with the astonishing allegation that at one time these lawyers worked for both Sonos and D&M at the same time.
Now, Sonos’ legal team shoots back, saying D&M’s filings are “not entirely accurate”… [Read more…] about Sonos Shoots Back; D&M Filings ‘Not Entirely Accurate’
Earlier this month, we reported that D&M Holdings U.S., Inc. (D&M) [and Denon Electronics] had responded to the patent infringement lawsuit filed by Sonos, Inc. (Sonos) this past October by asking the judge to dismiss or throw out the case. Now, in a surprising twist of events, D&M has followed this initial left jab with a right uppercut that may result in Sonos’ attorneys getting knocked out of the case altogether – whether the judge dismisses it or not.
See more on this surprising – and slightly unusual – turn of events… [Read more…] about Sonos/D&M Lawsuit Takes a Surprising & Slightly Dark Turn
D&M Holdings fired back at Sonos this week, filing papers with the United States District Court asking the judge to dismiss the lawsuit launched against them by Sonos last October alleging patent infringement. Saying that Sonos’ complaints, both the original and a later-amended one, “fail to meet the pleading requirements” established by the U.S. Supreme Court, as well as the U.S. District Court.
Likely not the response that Sonos was hoping for, D&M has bounced the case back to the judge for an immediate ruling.
D&M’s response included some interesting details… [Read more…] about D&M Fires Back – Asks Judge to Throw Out Sonos Lawsuit
Earlier today, we reported that wireless music system powerhouse Sonos had filed a lawsuit against Denon in regards to its HEOS line of wireless music systems. The lawsuit alleged, among other things, infringement on four of their patents and asked the court for an injunction to stop HEOS products from being sold.
Today, we received a statement from D+M Group, the parent of Denon, in response to this lawsuit.
See the D+M Group’s statement on the Sonos lawsuit… [Read more…] about D+M Group Issues Response to Sonos Lawsuit
Congratulations Denon, your new HEOS system is so successful that wireless music monster Sonos has taken notice…and filed a lawsuit to stop it. It has been a open secret since we first learned of HEOS this past June that HEOS is meant to attack the same wireless music player market that Sonos essentially invented. Many have tried to take on Sonos…but none have come close to replicating the features and performance Sonos introduced to consumers. Until HEOS…
See more on this development. Will Denon fight? Or license?… [Read more…] about Sonos Sues to Halt HEOS
In February, we told you about a report from Reuters that Bain Capital was seeking to restructure their financing package originally constructed when they purchased D&M Holdings (now known as the D+M Group) back in 2008. The original package was said to total ¥74.1 billion ($725.2 million), the senior debt portion of which is maturing this month. Reuters suggested at the time that Bain may experience difficulties getting a new deal, despite their financial prowess.
Now we learn that Reuters was right – Bain Capital has failed in its attempt to restructure the D&M Holdings debt.
See more on just what happened when Bain went back to the well on D&M… [Read more…] about Bain Capital Fails in Its Bid to Restructure D&M Holdings Buyout Financing
D+M Group (formerly D&M Holdings), continues their program of divesting businesses it determines are “non-core” to the company’s central focus on the consumer-based Denon, Marantz and Boston Acoustics brands. This week, we learned that the company has cut a deal to license the professional products businesses done under both the Denon and the Marantz brand names to inMusic Brands, Inc.. This move closely follows the announcement last month that the company was selling off the Calrec Audio business to Electra Parters.
See more on this new but not particularly surprising development… [Read more…] about D+M Group Cuts Licensing Deal for Denon & Marantz Professional Businesses
Former CEO Pacor Comments on Brand Acquisition Strategy
We learned last week that D&M Holdings, also known as the D+M Group, sold off its Calrec Audio brand to Electra Partners, a London-based private equity company. D&M received £14 million ($23.1 million) for Calrec, a designer of premium audio products and live-to-air consoles for the broadcast market. The move is part of a plan to divest itself of all non-core businesses, CEO Jim Caudill has said in press reports.
See more on the company’s aggressive strategy to unload non-core businesses… [Read more…] about Deconstructing D&M Holdings; Company Sells Calrec Audio and Explores Other Options
Reuters reported this week that Bain Capital, the private equity company that virtually became a household name when CEO Mitt Romney ran for president against Barack Obama, is seeking to refinance the buyout financing it used to acquire D&M Holdings, Inc., also known as the D+M Group. It’s not going to be easy.