(Reggio Emilia, Italy) RCF Group, one of the fastest growing groups in the Pro Audio market today announced that it is acquiring Eastern Acoustics Works (EAW), an iconic company in the history of Install and Touring sound headquartered in Whitinsville, Massachusetts from LOUD Audio LLC, a portfolio company of Transom Capital Group.
RCF Group, with Headquarters in Reggio Emilia and Bologna and subsidiaries in USA and Europe, operates under the companies RCF and AEB Industriale (dB Technologies) and is now adding EAW company to further become an international leader in designing, producing and selling products and systems for professional audio and public address installations.
Arturo Vicari, CEO of RCF Group stated:
Since their early days, the two companies have been very close with RCF supplying professional drivers to EAW. Both brands successfully expanded around the world and their histories were often linked. Finally, we can look at a bright future together. Even though EAW will remain a totally independent company, being part of our group will provide EAW with the necessary investments and focus for a fast and solid growth. We are very proud to have EAW with us.
TJ Smith, President of EAW stated:
For those who love EAW it is difficult to imagine a better scenario. From the first moment this possibility started to materialize it has been clear that joining forces with RCF Group is a great opportunity for EAW. This transaction is a true recognition of what the brand represents, its potential, as well as the team we have built over recent years. With gratitude to the long list of those that built EAW over its 40-year history, we look forward to the exciting time in front of us.
CapM Advisors acted as financial advisor to RCF Group. Studio Legale Chiomenti and Good Procter LLP served as legal counsel to RCF Group. Latham & Watkins LLP served as legal counsel to LOUD and Transom Capital Group.
About RCF Group
RCF Group, with companies and subsidiaries located in USA and Europe, is a leading player in the Pro Audio industry, designing, manufacturing and distributing an extensive range of professional audio solutions in the retail, install and touring market. With a history dating back to 1949, the passion of its 500 employees and the focus on continual technical innovation, RCF Group products and solutions are successful in over 130 countries around the world.
EAW has designed and manufactured premium professional loudspeaker systems and electronics since 1978. Its products are used throughout the world to support performances and sporting events in stadiums, arenas, outdoor venues, houses of worship, and theaters. Over its 40-year history the brand has introduced several significant innovations in loudspeaker technology by leveraging expertise in acoustics, digital signal processing, and software control.