MUSIC INDUSTRY icon Marshall Amplification’s sale to sound electronics company Zound Industries has been completed.
Marshall, whose headquarters are in Bletchley, has worked in a joint venture with the Swedish-based company since 2010. The sale, announced in March, sees the launch of Marshall Group as the new name for the combined business with current annual revenue totalling around $360 million.
In selling Marshall Amplification to Zound Industries, the Marshall family will become the largest shareholder of the newly formed Marshall Group with a 24% shareholding. Terry and his sister Victoria Marshall will join the board of Marshall Group.
Marshall Group includes all of the Marshall Amplification brands, including Natal Drums, Marshall Records and Marshall Live Agency.
The Jim Marshall Charitable Trust, which is also a shareholder of the Marshall Group, will play a key role in ensuring the legacy of the famous Marshall sound and brand by continuing to be involved in charitable causes in the local area.
Mr Marshall said: “We have always looked for ways to deliver the pioneering Marshall sound to music lovers of all backgrounds and music tastes across the world and I am confident that the Marshall Group will elevate this mission and spur the love for the Marshall brand.”
The Marshall brand was born in the 1960s when Jim Marshall – the “Father of Loud” – and his son Terry created the original Marshall amp in his drum shop in Hanwell, London under the name Jim Marshall and Son. Marshall Amplification was founded in 1962 and the Marshall guitar amplifiers soon became the leading brand, seen on all the biggest stages around the world and used by guitarists such as Jimi Hendrix, Jimmy Page of Led Zeppelin and Pete Townshend of The Who.
Marshall Amplification has been based in Bletchley for more than five decades and has worked with Zound Industries since 2010, when Zound started to license the Marshall brand for use on a range of headphones and wireless speakers sold around the world in 90 countries.
Lawyers at Geoffrey Leaver Solicitors in Milton Keynes advised Marshall Amplification shareholders on the sale. Senior associate Danielle Austin pictured left said: “Marshall Amplification is a renowned business to Milton Keynes, and we’re delighted to have advised the shareholders of Marshall Amplification on this cross-border transaction spanning England, Sweden, Vietnam and Hong Kong to ensure the continued success of the Marshall brand with the formation of the Marshall Group and for Terry and Victoria Marshall to continue Jim Marshall’s legacy as board members of the Marshall Group.”
The firm has advised Marshall for many years. Commercial property solicitor Richard Willis is also a member of Jim Marshall’s Board of Trustees and a trustee of the Charitable Trust. “This is an exciting time for the company and for the brand but also for the Jim Marshall Charitable Trust.” Mr Willis said. “The charity retains an interest in the new venture and will have increased scope to consider and to apply charitable donations to the causes Jim was so passionate to support.”
