Geoffrey Leaver Solicitors corporate team fine-tune the sale of music legend Marshall Amplification to Zound Industries
The team at Geoffrey Leaver Solicitors, led by Troy Warner and Danielle Austin, advised the shareholders of Marshall Amplification on the multi-million pound sale of the business to Zound Industries
The Marshall brand was born in the 1960’s when Jim Marshall the “Father of Loud” and his son Terry created the original Marshall amp in his drum shop in Hanwell, London under the name “Jim Marshall and Son”. Marshall Amplification was then subsequently founded in 1962. The Marshall guitar amplifiers soon became the leading brand and were seen on all the biggest stages around the world, with guitarists such as Jimi Hendrix, Jimmy Page of Led Zeppelin and Pete Townshend of the Who pushing for greater performance.
Marshall Amplification is now based in Milton Keynes, and Geoffrey Leaver Solicitors has worked with the business for many years, including advising since 2010 on the joint venture with Zound Industries, when the Swedish based company started to license the Marshall brand for use on a range of headphones and wireless speakers sold around the world in 90 countries.
The sale of Marshall Amplification, which was announced on 30 March 2023 and completed on 28 April 2023, sees the launch of Marshall Group as the new name for the ‘audio-tech powerhouse’, with annual revenues reported to be circa $360 million on day one, comprising Milton Keynes-based Marshall Amplification and Stockholm-headquartered Zound Industries. Marshall Group includes all of the Marshall Amplification brands, including Natal Drums, Marshall Records and Marshall Live Agency. In selling Marshall Amplification to Zound Industries, the Marshall family will become the largest shareholder of the newly formed Marshall Group with a 24% shareholding. Terry and his sister Victoria Marshall will join the board of Marshall Group.
The Jim Marshall Charitable Trust, which is also a shareholder of the Marshall Group, will play a key role in ensuring the legacy of the famous Marshall sound and brand by continuing to be involved in charitable causes in the local area. Jim Marshall knew the power of music and, as a drum teacher, he witnessed first-hand the benefits that people got from picking up an instrument. He also knew that not everyone was fortunate enough to have access to music, which is why he was committed to helping people get just that.
Terry Marshall comments “We have always looked for ways to deliver the pioneering Marshall sound to music lovers of all backgrounds and music tastes across the world – and I’m confident that the Marshall Group will elevate this mission and spur the love for the Marshall brand.”
Richard Willis, a member of Jim Marshall’s Board of Trustees and a trustee of the Charitable Trust, said “This is an exciting time for the company and for the brand but also for the Jim Marshall Charitable Trust. The charity retains an interest in the new venture and will have increased scope to consider and to apply charitable donations to the causes Jim was so passionate to support”.
The team at Geoffrey Leaver Solicitors played an integral part in the sale of the iconic Marshall brand. Danielle Austin, Senior Associate Solicitor, said “Marshall Amplification is a renowned business to Milton Keynes, and we’re delighted to have advised the shareholders of Marshall Amplification on this cross-border transaction spanning England, Sweden, Vietnam and Hong Kong to ensure the continued success of the Marshall brand with the formation of the Marshall Group and for Terry and Victoria Marshall to continue Jim Marshall’s legacy as board members of the Marshall Group”.