Venerable Canadian audio brands Paradigm, Anthem, and MartinLogan have been sold back to a familiar name. Original founder Scott Bagby, along with John Bagby, have announced the purchase of Paradigm Electronics, Anthem Electronics, and MartinLogan Loudspeakers, effective May 10, 2019. Terms were not disclosed.
Scott Bagby, one of the original founders of Paradigm Electronics, continues as Chairman and assumes the role of CEO. John Bagby, who has been active in many areas in the business over the last several years, takes on the role of Managing Director.
“This is an exciting time in the industry and we look forward to the opportunity to move into the future with all three brands. 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,” Scott says.
“We will operate with integrity and respect, building on the great relationships and strong friendships created over the years. This is our commitment to the industry.”
Paradigm, Anthem, and MartinLogan are iconic brands all based in Mississauga, Ontario, with a strong history of excellence and a commitment to the industry.
In addition to products that excel on innovation and class-leading performance, industry partners across all three brands can expect a renewed commitment on ease of doing business, focusing on enhanced training and support, the company says in a press release.
Anthem is a premium manufacturer of AV receivers, amplifiers and processors. Paradigm makes high-end freestanding, bookshelf and architectural speakers. MartinLogan makes electrostatic speakers as well as subwoofers.
All three brands fared well in the recent CE Pro 100 Brand Analysis:
- Anthem is the No. 1 brand of home theater preamps/processors, with a 30% marketshare (tied with Integra for the top spot). Anthem is the No. 4 AVR brand with a 31% marketshare.
- Paradigm is the No. 6 most-used-brand of freestanding loudspeakers among the CE Pro 100, with a 27% marketshare. Also, Paradigm is the No. 7 brand in architectural speakers, with a 22% marketshare.
- MartinLogan is the No. 10 brand in freestanding loudspeakers with 15% of the CE Pro 100 market.
The Bagbys note that it is a time of change in the industry, and based on their years of combined audio experience and innovative and entrepreneurial backgrounds, they believe they are well positioned to move these three brands into the future.
In 2005, Shoreview Industries, a private equity firm out of Minneapolis, acquired a controlling interest in Paradigm with Scott continuing with a minority position. Together they created SVI Holdings, which then acquired MartinLogan Loudspeakers a short time later.
With the purchase of the three brands completed last week, Shoreview Industries has exited the business.