BREAKING NEWS: Sound United To Buy Qualifi, Big Problem For Voxx International
In a move that is set to hurt Voxx International and Klipsch, global audio company Sound United, parent company of Denon, Bowers & Wilkins, Marantz, Polk Audio, Definitive Technology, Classé, HEOS and Boston Acoustics, is set to acquire Melbourne based distributor Qualifi.
The news comes just weeks after Sound United archrival Voxx International terminated their relationship with Qualifi a move that is tipped to backfire following the signing of a heads of agreement with Sound United.
ChannelNews understands that Michael Henriksen will stay at the new Sound United company until the transition has been completed.
We are also aware that Melbourne based distributor Westan has lost the distribution rights to the Sound United owned Polk and Definitive Technology brands.
The Polk brand is set to be expanded into new retailers in competition with Klipsch according to retail sources who have been negotiating with Sound United and Qualifi executives.
Later this year the Bowers & Wilkins product range will be integrated into the new Sound United Australian operation, this operation that is run by Sydney based Phil Newton a former Samsung Vice President and became an Australian subsidiary of Sound United two years ago after the termination of a relationship with Convoy.
“Australia is a key strategic market for Sound United and we determined the best way to continue supporting our existing partners would be to establish direct operations in the country,” said Kazuma Okada, VP of commercial operations for Asia Pacific at Sound United.
“Qualifi has established itself as a leader in sales, marketing and support for several AV suppliers, including Sound United with brands like Denon, Marantz and Heos. Given its stellar reputation and robust capabilities in the Australian market, we believe acquiring Qualifi will result in a superior service to our AV dealers and the market at large. We look forward to the opportunity to finalize this transaction.”
Qualifi is one of Australia’s leading importers and distributors of premium home entertainment systems. The company has a longstanding history of providing premium quality audio and video solutions to discerning customers in Australia.
“It’s been an honour to service the Australian market for nearly four decades, and I’m excited to embark on Qualifi next chapter with Sound United,” said Michael Henriksen, Managing Director of Qualifi.
“The AV market is on an incredible growth trajectory right now, and with the help of Sound United, we’re confident Qualifi will continue to meet and exceed the expectations of our dealers and partners.”
The proposed transaction remains subject to definitive agreements, confirmatory diligence, regulatory approvals, and other required consents. Sound United and Qualifi will release further updates in relation to the status of the proposed transaction at the appropriate time.
Sound United is a portfolio company of Boston-based private equity firm Charlesbank Capital Partners, LLC.
More to follow…