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Martin Audio reports double digit growth

Martin Audio reports double digit growth

Martin Audio reports double digit growth

World:

Following the management buyout by LDC in 2018, British manufacturer Martin Audio has announced double-digit sales growth of 22% compared to the 2017-2018 financial year. The company has attributed this to a series of recent product launches in addition to its ongoing overseas expansion.

Martin Audio was backed by LDC in a management buyout from global audio specialist, Loud Audio. As part of the deal, LDC invested £12 million in the company, alongside its existing management team. Since then, the loudspeaker manufacturer has invested in developing key teams, processes and enhancing its computer software and ERP systems, as well as recruiting a new finance department from scratch. The brand has also launched 15 new products over the past 12 months and extended its scalable acoustic technology offering. Its new range of sound solutions has enabled expansion into the commercial install space. Over the next 12 months, it is looking to further expand its product range to further increase market share.

‘This has been a significant year for Martin Audio, with a series of key product launches to help us continue providing incredible audio experiences to our customers,’ commented Martin Audio managing director, Dom Harter. ‘We’ve also laid the groundwork for future growth by enhancing key business functions and ensuring we have the best possible team in place. We’re now looking to build on the momentum we have created to expand our offering even further and become a major player in the market.

Philip Weston, investment director at LDC London, added: ‘The ambition and drive of Dom and his team has helped Martin Audio to achieve record sales this year, expanding their portfolio of products to ensure they are at the forefront of audio technology. We are excited to continue working with the team and supporting them through their next phase of growth.’



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