Fender acquires industry leader PreSonus
Completion of the merger is subject to U.S. regulatory approval
Fender Musical Instruments Corporation (FMIC), the world’s leading musical instrument manufacturers, marketers and distributors, has fine tuned it's business interests after announcing a deal acquire studio gear company PreSonus Audio Electronics, Inc.
The Baton Rouge, Louisana based brand which also has a base here in Cavan, Presonus is the a market leading designer and manufacturer of recording and live-sound hardware and software solutions that solve real-world problems for working studio creatives.
“We are thrilled to welcome everyone on the PreSonus team to the FMIC family and excited about the future growth opportunities available to both companies,” said Andy Mooney, CEO Fender Musical Instruments Corp, in a statement issued yesterday (Tuesday).
“I would like to extend our utmost gratitude to our loyal Baton Rouge and Louisiana community that have supported PreSonus for the last two decades,” said Kevin Couhig, Chairman of PreSonus. “It has been wonderful being a part of this incredible journey with PreSonus. I’m excited to see what the future holds going forward”
Founded in 1995 by Jim Odom and Brian Smith, PreSonus opened its first overseas facility in Cavan in 2012, first establishing in Belturbet, before moving their base of operations to the Cavan Enterprise Centre in Killygarry.
The IDA supported firm, of which Eugene Greenan is General Manager, currently employs more than 20 staff.
“After more than 25 years PreSonus feels it has found the right partner to support us as we continue our growth,” said Jim Odom, Founder/CSO PreSonus. “We look forward to showing our current and future music community what this opportunity means for them.”
Completion of the merger is subject to U.S. regulatory approvals and other customary closing conditions.
At this time, FMIC and PreSonus will continue to operate as separate entities.
Gibson, Dunn & Crutcher LLP acted as legal counsel to Fender Musical Instruments Corporation. PreSonus was advised by Robert W. Baird & Co. and legal counsel was provided by Butler Snow LLP.