Paradigm, Anthem, Martin Logan Get New Owners
Image source: Paradigm
An original founder of Canadian audio company Paradigm Electronics has re-taken control of the business after ending a partnership with a private equity firm.
Scott Bagby co-founded Paradigm in 1982 with Jerry VanderMarel.
Mr VanderMarel departed in 2005, and private equity firm Shoreview Industries acquired a controlling interest in the company, while Mr Bagby remained as a chairman.
Paradigm manufactures amplifiers, loudspeakers and other high-end audio equipment under the Paradigm, Anthem, and Martin Logan brands.
A statement from the three brands said Shoreview Industries has now exited the business, but is seemingly yet to update its website, where Paradigm is still listed in its portfolio.
Scott Bagby appears to be taking a “business as usual” approach.
“We will continue to maintain and adhere to the core values of each brand as we strive for continuous innovation to deliver products with superior performance and value,” Mr Bagby said in a statement.
Scott Bagby assumes the role of CEO and chairman while his purchasing partner and Paradigm employee John Bagby has been named Managing Director.
Comment has been sought from the Australian distributors of the Paradigm and Martin Logan brands.