Powersoft has acquired 51 percent of share capital of its fellow Italian audio brand K-Array from its owner, HP Sound Equipment, with option to reach 100 percent. The closing of the transaction is, to date, expected by March 2025.
In a statement, Powersoft announced the signing of a “binding investment agreement to acquire from HP Sound Equipment 51 percent of the share capital of K-Array. The agreement also envisages the mutual granting of call and put options in favour of Powersoft and HP Sound, respectively, on the remaining 49 percent of K-Array’s share capital”.
Luca Lastrucci, CEO of Powersoft, said: “We are excited 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 now, with a strong territorial proximity and sharing a creative and innovative spirit, both convinced of the potential to create important product and technological synergies.”
He continued: “We plan to enrich our portfolio with cutting-edge products, leveraging the expertise and resources of K-Array to develop new integrated audio solutions for an ever-evolving market. The synergy between Powersoft and K-Array is set to generate significant results in technological innovation, allowing us to strengthen our presence in the segments where we already operate while also expanding into new areas. We can’t wait to start working with K-Array to set new and even higher standards of excellence”.
Alessandro Tatini, chairman and CEO of K-Array, added: “Massimo Ferrati (CEO and co-founder) and I decided on this strategic step to integrate our company into a solid and constantly growing group like Powersoft. Our intention is to empower our resources, now over 100 and among the most qualified on the market, for a promising future filled with opportunities and success. In addition to growth in numbers, the goal is to strengthen a solid and cohesive foundation capable of tackling future challenges with greater resilience and determination.”
He continued: “Our team has been integral to our growth journey, and we believe it is our responsibility to provide them with an even more ambitious vision for our project. We have been collaborating with Powersoft since the beginning, and beyond being neighbours and sharing an identity deeply rooted locally yet globally oriented, we are united by a strong passion for technology and sound.”
He concluded: “Their innovations have always been an essential part of our work, making it obvious to realise that joining forces could add significant value to the growth that, in recent years, has been in double digits, bringing us immense satisfaction. We are confident that this partnership will allow us to achieve incredible results in synergy. We are excited and eager to unleash our full creativity and potential”.
The deal was the logical development of a long-established “supplier-customer” partnership between two companies that share common values, the statement said. The goal is to leverage their complementary strengths, boosting competitiveness and fostering growth, while preserving distinct identities and operational autonomy within a shared growth plan. Currently, Powersoft is set to continue its mission as a global technology provider, while K-Array will maintain its positioning in the high-end audio speaker industry.
The acquisition is also part of Powersoft’s growth strategy to transform the group from a product company to a solution provider, with a primary focus on the transportation and automotive sectors, where technological innovation, efficiency, and the reliability of audio systems play a key role.
Mention should be made in this regard of the recent technology partnership signed with Ferrari, which marked Powersoft’s entry into the supercar industry. By combining its know-how in amplification systems, signal processing, and transducers with K-Array’s expertise in compact, high-performance loudspeaker engineering and design, Powersoft hopes to accelerate its expansion in these markets.
The combined presence of the two companies through their distribution networks is also expected to drive greater penetration in high-growth markets such as Asia and Latin America.
The acquisition of K-Array represents a significant dimensional leap for Powersoft Group, which, based on the operating-financial figures from the financial statements at December 31, 2023, achieves an estimated pro-forma aggregate turnover of approximately 88m euros, with an estimated pro-forma EBITDA nearing 24m euros, counting on approximately 300 professionals.
