Allen and Heath
Allen & Heath (also known as AH or A&H) of Penryn, Cornwall, specialising in the manufacture of audio mixing consoles. Allen & Heath also makes sound management systems for industrial installations and DJ mixers for nightclubs. Allen & Heath is now part of Electra Partners.
Founded in 1969, the company became more widely known after involvement by Andy Bereza, Ivor Taylor, and Andrew Stirling.
In the early 1970s Allen & Heath built a custom quadraphonic mixing console for the band Pink Floyd, the MOD1, which was used by Alan Parsons to mix their live performances. The MOD1 can be seen in their movie "Live at Pompeii".
Allen & Heath was acquired by Harman International Industries in 1991. By 2001 the manufacturer's turnover has increased tenfold.
In July 2001 there was a management buyout of the company with investment coming from 3i and Bank of Scotland. The board consisted of the four then current directors, plus two non-executive directors from its investment partners.
In March 2006 Close Growth Capital brought 3i's share for £9m in a secondary buyout. The company then employed 180 people with a turnover of £15 million.
In April 2008, A&H was sold to D&M Holdings Inc who made an unsolicited offer. They made the bid as they wanted a successful professional audio brand to complement their portfolio of sound related activities. A&H's profit was up 40% compared to 2006.
In June 2013, D&M Holdings sold Allen & Heath to private equity firm, Electra Partners. £43 million of equity and debt was provided by Electra Private Equity PLC and Allen & Heath's management.