“Zound Industries has morphed in six years into a leading international music hardware company, at the forefront of fashion and technology. We look forward to joining the company on its product-anchored high growth track, and especially to accompanying the pivotal launch of the first music dedicated smartphone.” said Henri de Bodinat, President at TIME for Growth.
Per Roman, Managing Partner of GP Bullhound commented: “It has been a great pleasure to advise Konrad Bergström and Pernilla Ekman and the team at Zound on this transaction to further grow one of the most exciting companies I have come across in the intersection of digital music and consumer technology. The team’s understanding of consumer zeitgeist and sense of design is bar none. I am also delighted that GP Bullhound’s Sidecar fund has become a long-term shareholder in the process as well.”
Co-founder and President of Zound Industries, Konrad Bergström, said: “We are excited to have TIME For Growth partnering with us in this continuing journey, and are looking forward to a period with numerous new product launches during summer and fall, in addition to the smartphone project. GP Bullhound has done a tremendous job, showing complete commitment to Zound and its shareholders. Together we have enabled Zound to accelerate the next steps of Zound’s mission of making electronics fashionable and fashion electronics.”
This transaction underscores GP Bullhound’s wealth of experience and depth of relations in the digital music space, following on from previous successful transactions and investments in the area, including Spotify, Believe Digital, Tunigo, Libratone, Muzicall, We7 and 7Digital. This is the firm’s 11th transaction in 2015.
About GP Bullhound
As dealmakers in technology, GP Bullhound provides independent strategic advice on mergers and acquisitions and private placements to entrepreneurs, companies and investors. By combining a true passion for innovation with great access to global buyers and capital across Europe, US and Asia, GP Bullhound has completed transactions with many category leaders including Avito, Delivery Hero, Fjord, King.com, Pingdom, Pozitron and Spotify. The firm was founded in London in 1999 and today also has offices in San Francisco, Stockholm, Berlin and Manchester. For more information, please visit www.gpbullhound.com
About Zound Industries
Zound Industries is based in Stockholm, Sweden, with offices in New York, USA and in Shenzhen China, and is home to audio accessory brands Urbanears, Marshall Headphones, Coloud and Molami. The company was awarded the Supergasell price in December 2013 by leading Swedish newspaper Dagens Industri in recognition of its growth of almost 11 000% during a three-year period. For more information please visit www.zoundindustries.com
About TIME For Growth
Time for Growth is a French based growth capital private equity fund specialized in digital and entertainment, created in 2009. Time for Growth has invested so far in eight European growth companies. It is led by Henri de Bodinat, a former Sony Music manager, and as such a natural partner for leading edge music hardware company Zound. For more information, please visit www.time-4g.com