The sale includes the transfer of the exclusive worldwide sales license for the patented Perfection Peg stringed instrument tuning device. The firm retains the Alvarez, Ampeg and Crate lines. Terms of the sale were not disclosed.
St. Louis Music, the Missouri-based manufacturer, distributor and importer of professional audio products was purchased by Loud in April 2005 from the Kornblum family for US$32.6 million in cash and restricted shares in Loud Technologies, valued at approximately US$1.2 million. The firm was operated as a wholly owned subsidiary of Loud.
“The SLM Marketplace sale, a non-core business unit and product lines, will enable Loud to dedicate its resources and solidify its leadership positions in the musical instruments and professional audio markets,” commented Rodney Olson, President and CEO of Loud Technologies.
“Moreover, US Band & Orchestra Supplies is the ideal new owner for SLM Marketplace, Austin and Knilling, since they will ensure that our dealer network for these products will continue to receive the highest levels of service and support.”Article continues below
“We are all looking forward to continuing SLM Marketplace’s 105-year St. Louis tradition and to bringing our reputation for impeccable dealer service to the many new customers with whom we are about to do business,” added Mark Ragin, president and owner, US Band & Orchestra Supplies.”