The Riverside Company acquires Blue Microphones


microphonesPrivate equity firm The Riverside Company has bought microphone technology specialist Blue Microphones, which plans to develop new products and expand into new markets.

The company has developed a number of consumer audio products including high performance microphones used by professional artists and the first THX-certified microphone and a portable microphone for iOS devices.

Blue Microphones currently offers 31 products for consumers and professionals.

Riverside managing partner Loren Schlachet said, “Blue Microphones is favoured by pros and consumers alike. Their products are outstanding, and meet a range of requirements for end users needing virtually any type of microphone. We’re really excited to invest in this company.”

US Bank provided the financing and Jones Day and Deloitte advised Riverside on the investment.

Riverside targets growing businesses valued at up to $250m and has invested in more than 310 businesses since its launch in 1988.

Earlier this month Riverside made its first investment in New Zealand with the acquisition of a controlling stake in animal drug delivery company Simcro.

Copyright © 2013 AltAssets