Legendary synthesizer company joins forces with global audio products leader
Los Angeles— April 27, 2021 — WRiiG LLC announced today that it served as the exclusive financial advisor to Sequential LLC, a California based leading music synthesizer company, on its sale to Focusrite plc (AIM: TUNE), a UK based global leader in music and audio products, for $24 million (USD).
Sequential is led by legendary instrument designer and Grammy-winner Dave Smith, the founder of Sequential Circuits in 1974. In 1977 Dave designed the Prophet-5, the world’s first fully-programmable polyphonic synthesizer. Sequential released many innovative instruments and drum machines during the next 10 years. After several years of other endeavors, Dave Smith Instruments (DSI) reemerged in the synthesizer market under Smith’s leadership in 2002 and reestablished itself as a leader in professional music production. In 2018 DSI was renamed Sequential, and in 2020 Sequential launched a new version of the Prophet-5, marking the return of the highly sought-after synthesizer that started it all.
After years of significant growth and profitability, Dave Smith sought to find a suitable partner that could continue the company’s momentum while allowing him to focus on leading Sequential’s product innovation. Sequential enlisted the services of WRiiG to assess and identify the ideal partner for Sequential.
“Most important to me was to find a company that shares the culture and values of Sequential,” said Dave Smith, Sequential’s founder. “WRiiG’s clear understanding of this goal combined with their decades of industry success and M&A experience led to connecting us with Focusrite, which is the ideal partner for Sequential.”
“But as important as finding the right partner is, managing all of the elements of the negotiation and transaction with attention to every detail is critical. My passion is in designing great products, so having a team I could trust to make this deal work was essential. WRiiG took the lead through each step of the process, and I am thrilled with the outcome and for what the future holds for Sequential as part of the Focusrite Group.”
“Dave is a true pioneer in our industry who has made incredible contributions to music for over forty years,” said Marcus Ryle, co-founder and chief strategist of WRiiG. “His synthesizers have provided inspiration for countless artists, and his invention of the MIDI standard continues to be a major force in music creation to this day. It has been our honor to be able to help Dave find the perfect partner for his company.”
“All of Sequential’s staff and operations will remain intact and under Dave’s leadership, providing musicians with all of the products and services Sequential is known for,” said Susan Wolf, co-founder and president of WRiiG. “But by adding the skills and resources of the Focusrite Group, Dave will be able to focus even more on future innovations for Sequential.”
The Sequential portfolio of high-end analog synthesizers dramatically expands the footprint the Focusrite Group has with its Novation branded instruments, offering more premium priced solutions for electronic artists. The Group also sees the possibility of future synergies between the Sequential and Novation’s R&D teams to bring new innovative products to market that will further the Group’s mission of “removing barriers to creativity”.
Sequential and WRiiG were supported in this transaction by the legal team of Los Angeles-based Greenberg Glusker, with teams from Los Angeles office of Singer Lewak LLP providing tax advisement and the Los Angeles team of Buxbaum HCS providing accounting advisement.
Sequential LLC is a San Francisco-based pioneer and leader in synthesizers used by professional musicians worldwide. Sequential was founded by inventor and Grammy-winner Dave Smith, designer of the legendary Prophet-5 and co-inventor of the worldwide MIDI standard.
Focusrite plc is a global music and audio products group that develops and markets proprietary hardware and software products. Used by recording professionals and musicians alike, its solutions facilitate the high-quality production of recorded and live sound. The Focusrite Group trades under seven brands: Focusrite, Focusrite Pro, Novation, Ampify, ADAM Audio, Martin Audio and Optimal Audio.
WRiiG, LLC is a business advisement firm founded by Susan Wolf and Marcus Ryle. Prior to WRiiG, Wolf and Ryle co-founded Line 6, Inc., a world leader in music technology, which was sold to Yamaha Corporation of Japan in 2014. Through 2019 they held leadership positions within Line 6 and Yamaha, and in 2020 formed WRiiG in order to utilize their executive experience to provide businesses with strategic and innovation advisement.
Copyright © WRiiG - All Rights Reserved.