KARTESIA SENIOR OPPORTUNITIES INCREASES SUPPORT TO FINE SOUNDS
Kartesia is pleased to announce a follow-on investment in the leading designer of audio equipment Fine Sounds, renewing its support in the Company in a new phase of growth.
Following its original investment in 2017, Kartesia has worked with main shareholder LBO France and management to provide a Unitranche financing of over $50m. This allows Fine Sounds to repay the original Kartesia Credit Opportunities financing and to capitalise on its historical market leading position through its legacy brands McIntosh and Sonus Faber.
As communicated to the market, the recently launched Kartesia Senior Opportunities investment strategy looks to provide senior financing solutions to small and medium-sized companies with strong credit profiles, a profile that Fine Sounds matches.
Acquired in 2014 by LBO France, Fine Sounds is a leading international designer, manufacturer and marketer of high-end audio equipment, distributed under two main brands: McIntosh Labs and Sonus Faber. The investment from Kartesia will further strengthen the Company’s capital resources while also enabling additional growth in the car audio market where the Company has recently developed strong partnerships with major US and European OEMs.
Matthieu Delamaire, Managing Partner at Kartesia, commented: “We are excited to be working with Fine Sounds and LBO France again, as the Company looks to continue its impressive growth and increase its share in the global audio equipment market. This investment from our senior lending fund is a clear demonstration of the flexibility of Kartesia’s capital solutions and our deep credit expertise”.