Private equity firm Riverside has sold DPA Microphones to RCF Group.
DPA is a Denmark-based developer and manufacturer of high-end microphones which are used by professionals in theatre, broadcast, live and studio applications.
Celebrity users include Stevie Wonder, Katy Perry, Metallica, Coldplay, Paul McCartney and Céline Dion. The microphones are also used by the BBC as well as hit Broadway shows such as Les Misérables and Phantom of the Opera.
The business has 500 employees and sells its products in 130 countries around the world.
Riverside invested in DPA in 2013 and brought in a new CEO, Kalle Hvidt Nielsen, the former CEO of Bang and Olufsen, the Danish audio business.
During its ownership DPA’s sales and EBITDA nearly doubled and its product portfolio and distribution network also grew significantly.
Karsten Langer, Partner at Riverside, said: “Together with the DPA team, we were able to achieve all of our goals for this investment. The company saw considerable expansion of its distribution network and increased sales in a number of key markets. Its microphones are the absolute leader in the high-end pro-audio market, used on every continent and sold worldwide by more than 2,000 dealers.”
Kalle Hvidt Nielsen, CEO of DPA, added: “It has been a pleasure working with the Riverside team and being a part of this great success. I’m proud of the work we’ve accomplished together. Share of sales coming from new products are up from less than 5% to more than 40%, and all major areas in the business have been professionalised and streamlined. Now we look forward to a bright future under new ownership.”