TWS Enterprises, LLC, a privately held company owned wholly by Trent Suggs, has agreed to purchase Audio Research from the McIntosh Group, Inc. subject to completion of due diligence which is expected to be finalized by the end of August.
As Audio Research celebrates its 50th Anniversary this year, the company states that it is time to embark on the next chapter of its journey in high performance music reproduction.
“It has been an honor and privilege to lead Audio Research for the past 3 years,” says Jeff Poggi, co-CEO McIntosh Group.
“It is with mixed emotions that we are selling Audio Research. It has been rewarding to work with the passionate team of audiophile enthusiasts and craftspeople that make Audio Research the most respected high-end valve electronics company in the world. Yet, I couldn’t be happier knowing that the brand will be under great leadership with Trent Suggs at the helm.”
According to the McIntosh Group, over the past six years that it has owned the McIntosh Group it has expanded the brand’s marketing opportunities and exposure to new market segments.
The McIntosh Group also says The Design Lab at McIntosh Group also defined a new industrial design for the brand by incorporating iconic elements of past products, while introducing a refined, modernized aesthetic.
As part of the newly acquired company there will be two familiar additions to the team: Trent Suggs will rejoin the company with dual roles, as president and as director of North American sales, and Brandon Lauer who will rejoin Audio Research with dual roles, as director of international sales and as director of marketing.
Dave Gordon will assume the role of managing director. No other staff changes have been planned.
Product development, engineering, and manufacturing remain at the company’s 20,000 square foot facility in Maple Grove, a suburb west of Minneapolis.
“I am extremely excited for this opportunity to be back as a part of Audio Research. As former North American Sales Director, I was able to build upon the excellence associated with this corporation,” comments Suggs.
“Jeff and the McIntosh Group have been instrumental during this process, and to them many thanks. We look forward to our continued relationships with our valued partners for another 50 years. Being part of such an amazing organization is truly an honor. Audio Research will continue our never-ending pursuit for excellence.”
TWS Enterprises, LLC is a privately-owned company created to hold Audio Research equities; it is not part of a group. The objective for TWS Enterprises is to further enhance brand reputation and to focus on the unique processes that nourish the culture and product innovation at Audio Research. Maximizing workforce talents while returning to small company values will allow Audio Research to strengthen its relationships, respond quickly to market demands, and continue to build some of the most sought-after electronics available today.
Audio Research Corporation was founded in 1970 by William Z. Johnson and is one of the oldest manufacturers of vacuum tube electronics in the world.