International. Powersoft has entered into a binding investment agreement to acquire 51% of K-Array's share capital from H.P. Sound Equipment. The Agreement also provides for the mutual granting of call and put options in favor of Powersoft and HP Sound, respectively, on the remaining 49% of K-Array's share capital.
Luca Lastrucci, CEO of Powersoft: "We are delighted to announce this acquisition, a significant strategic step for our company and the professional audio market. This transaction arises from a successful partnership between two companies that have been collaborating for many years, with strong territorial proximity and sharing a creative and innovative spirit, both convinced of the potential to create important technological and product synergies."
For his part, Alessandro Tatini, President and CEO of K-Array: "Massimo Ferrati (CEO and co-founder) and I decided to take this strategic step to integrate our company into a solid and constantly growing group like Powersoft. Our intention is to leverage our resources, which today are more than 100 and are among the most qualified in the market, for a promising future full of opportunities and success. In addition to the growth in numbers, the aim is to strengthen a solid and cohesive foundation capable of facing future challenges with greater resilience and determination. We are confident that this alliance will allow us to achieve incredible results in synergy. We are excited and eager to unleash our full creativity and potential."
The K-Array Acquisition Transaction is fully aligned with Powersoft Group's strategic development plan, which aims to strengthen its presence in the professional audio sector through organic growth and acquisitions, as outlined from the IPO.
It also represents the logical development of a long-standing "supplier-customer" partnership between two companies that share common values: technological innovation, excellence, creativity, design, customer focus and product quality. The goal is to leverage their complementary strengths, boosting competitiveness and fostering growth, while preserving their distinctive identities and operational autonomy within a shared growth plan.
Today, Powersoft is poised to continue its mission as a global technology provider, while K-Array will maintain its unique positioning in the high-end audio speaker industry.
The acquisition of K-Array also represents a significant dimensional leap for Powersoft Group, which, based on the operating and financial figures in the financial statements as of December 31, 2023, reaches an estimated pro-forma aggregate turnover of approximately €88 million, with an estimated pro-forma EBITDA of close to €24 million, with approximately 300 professionals, among the most experienced in the industry.
The transaction is scheduled to close in March 2025.
