Private equity firm Ardian agreed to acquire U.K.-based audio mixing consoles provider Audiotonix Ltd. through a share buyout from fellow private equity firm Astorg Partners. The target company's management and previous majority shareholder Astorg will re-invest as part of the deal.
The transaction is set to close in the first quarter of 2020, subject to customary regulatory approvals.
The acquisition and re-investment will help Audiotonix expand its brands and product portfolio.
McKinsey & Co. and KPMG advised Ardian on commercial due diligence and financial due diligence, respectively. Allen & Overy was legal adviser.