Moody’s Investors Service, one of the top credit rating agencies in the world, said this month that DEI Sales, Inc., dba Sound United, has been assigned a credit rating of B2 and a probability of default rating of B2-PD. In addition to this, they are assigning another B2 rating to Sound United’s proposed $380 million senior secured first lien term loan due in 2028. The forward looking “outlook” for Sound United and this rating is “stable.”
Sound United, parent company to a wide range of audio lines, announced this week that it has hired Trip Randall, a former executive with sneaker & sports gear maker Nike, to be the new President of Denon. The company says this move is part of their plan to “revitalize marketing” at Denon. They also say they are looking to “boost direct-to-consumer sales” as well as several other initiatives.
See more on the new Denon president…[Read more…] about Former Nike Exec to Take a Run at Denon
Onkyo Corporation had a really tough fiscal 2020 – the fiscal year that ended March 31, 2020. How tough was it? So tough that the company was forced to announce that a massive drop in revenues and record losses had pushed the company into insolvency – calling into question its ability to continue as a going concern. It doesn’t get much tougher than that. And this announcement triggered a Tokyo Stock Exchange action – invoking a rule that starts a clock on a limited grace period for the company to cure the situation – their insolvency – before a forced delisting from the JASDAQ stock exchange is implemented.
So what happens now with Onkyo?[Read more…] about Onkyo Corp. is Insolvent; Now It’s in a Struggle to Survive
Massive AKM Factory Fire in Japan to Disrupt Global Supply of Critical Digital ICs
Just when you thought 2020 was almost over and the COVID calamity and its associated disasters were mostly behind us, a source tipped Strata-gee off to a major new disaster that will almost surely cause a significant disruption in the 2021 supply of those critical A/V products we all use/sell/and install every day. You may not be aware of this AKM fire story now, but we are all facing what will likely be another major supply chain headache in the near future.
Warning – your supply of key products is now threatened…[Read more…] about AKM Fire: 2020 was Almost Over, Then Disaster Struck Again
The Band’s Back Together – B&W Reunited with Classé Under Sound United
Sound United announced today that it has closed on its acquisition of Bowers & Wilkins (B&W), as expected. With this deal, B&W is rejoined with Classé – a high-end electronics manufacturer that itself was once part of B&W but then was acquired by Sound United back in Jaunuary 2018.
See more on Sound United acquiring Bowers & Wilkins[Read more…] about Sound United Deal to Acquire Bowers & Wilkins Closes
Just last Friday, the big news hit that Sound United had signed a letter of intent (LoI) to acquire respected audio specialty brand Bowers & Wilkins. Strata-gee was one of the first to break the news and from the moment I hit “publish,” Strata-gee web traffic stats made it clear that you all viewed this as big news as well.
That first announcement came from the Sound United camp – and it was pretty terse. As luck would have it, for the last couple of weeks before that news hit, I had already been pursuing an interview with James Krakowski, Bowers & Wilkins’ Executive Vice President, Americas, to follow up on a previous story. Although we had been struggling to find a time to connect, when this news hit, he graciously agreed to make himself immediately available for an interview.
Learn more about what’s going on with B&W now…[Read more…] about B&W Exec James Krakowski Tells Strata-gee, Ignore the ‘Noise,’ It’s All Good
Just ‘Early Stage Talks’ to ‘Explore Opportunities;’ No Mention of Agreement
Late in the day yesterday (Friday), Strata-gee told you about an announcement from top multi-brand audio provider Sound United, saying they had reached a preliminary agreement to acquire Bowers & Wilkins (B&W), a leading high-performance, high end audio loudspeaker brand. It was big news that represented another step in a long saga of B&W looking for a new home, after a previous deal with EVA Automation and its CEO Gideon Yu fell completely apart.
Now as I write this today, B&W has released a rare Saturday morning press statement that gives the same news – but from the B&W side of the deal…a statement that seems shaded differently than the Sound United characterization.
Read more on B&W take on the situation with Sound United…[Read more…] about In Unusual Saturday Statement, B&W Says, In Effect, We’ll Speak for Ourselves, Thank You
In yet another twist in the long and winding saga of Bowers & Wilkins (B&W), it was announced late Friday that the company has entered into an agreement to be acquired by Sound United, the parent company of several audio brands such as Denon, Marantz, Polk Audio, Definitive Technology, HEOS, Classé, and Boston Acoustics.
See more on Sound United acquiring Bowers & Wilkins…[Read more…] about Bowers & Wilkins in Preliminary Agreement to Be Acquired By Sound United
Sound United LLC, the parent company to brands such as Denon, Marantz, Polk Audio, Definitive Technology, Classé, and Boston Acoustics, announced on Tuesday that they have joined forces with Home Technology Specialists of America (HTSA), a leading trade consortium of custom integration dealers. This new partnership will expand availability of some of the top specialty audio brands throughout North America, thanks to HTSA’s extensive network of top dealers.
See more on this Sound United and HTSA partnership…[Read more…] about Sound United and HTSA Partner to Expand Market Availability of Top Audio Brands
When news first appeared two months ago that Frank Sterns was making the move from Sony to Sound United, many folks asked…why? At Sony, he was a top executive with a global CE leader positioned at the top of the industry food chain…a backbone-of-the-industry brand…the inventor of many of the core technologies used in just about every home in America today. Yes, Sound United is a global player as well, but in a much more limited way…and focused exclusively in only one area…audio.