Focal & Naim today announces that Naxicap has acquired a majority stake in the Group, alongside Aquasourça and the existing management team.
Christophe Sicaud, CEO of Focal & Naim commented “We are thrilled to begin this new stage in our history with the strong support of Naxicap and Aquasourça. Their investment represents a resounding endorsement of our company’s success and our commitment to R&D and creating innovative, high quality audio products for our customers. Our new investors have a strong track record of supporting R&D and manufacturing within fast growing European companies, making them ideal partners for us.”
“It has been a pleasure to work with CM-CIC, who have been a valued shareholder for 12 years. We also thank Jacques Mahul for everything he has done for the company over so many years. While he stands down as Chairman today, we are thrilled that he will continue to support the company as a brand ambassador.”
Angele Faugier, of Naxicap Partners added “We are very pleased to have the
opportunity to back Christophe Sicaud and his outstanding management team. We look forward to supporting the teams in Saint-Etienne, France and Salisbury, UK as they continue to build a leadership position in the global audio industry.”
Vincent Menudier, of Aquasourça added “Focal and Naim are incredible French and British brands with an impressive history. We are very excited to be supporting the further expansion of those brands into new markets and product areas.”
Paul Stephenson, Managing Director of Naim added: “Naim has a dynamic road map for business growth going forward. We welcome our new investors and their shared vision for our future.”
Since the merger of Focal and Naim in 2011, both brands have continued their rapid growth, preserving their unique market positions while also working together to develop new products in new categories and most importantly producing pure and authentic, beautiful sound.
To mark this next chapter in our history, we also today announce our new Group identity. Focal & Naim becomes Vervent Audio Group (VAG), a home to dynamic brands and a dynamic team of professionals.