HongShan confirms $1.1 billion deal to acquire Rock Icon Marshall

(Bloomberg) — HongShan Capital Group has agreed to buy a majority stake in audio equipment maker Marshall Group AB in a deal valued at about $1.1 billion.

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The founding Marshall family will retain a stake of more than 20 percent in the Stockholm-based company, whose guitar amplifiers have been used by rock legends such as Jimi Hendrix and Eric Clapton, according to a statement on Friday. The announcement confirmed an earlier Bloomberg News report that HongShan, the investment firm formerly known as Sequoia China, was close to a deal for Marshall.

HongShan is a venture capital and private equity firm that invests in the technology, healthcare and consumer sectors. Since its founding in 2005, it has supported more than 1,500 companies, including Alibaba Group Holding Ltd., BYD Co. and ByteDance Ltd., its website shows.

This transaction, which is subject to regulatory approvals, will mark HongShan’s largest investment in Europe to date. The firm manages more than $55 billion in assets.

An audio, technology and design group, Marshall traces its roots back to 1962 in the United Kingdom, according to its website. Their products range from amplifiers to wireless headphones and speakers. It has a presence in more than 90 markets.

Swedish group Zound Industries acquired Marshall in 2023, while Marshall’s founding family remained a shareholder. The transaction also included Natal Drums, Marshall Records and Marshall Live Agency.

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