Capital Sound As Part Of The SSE Audio Group Joins Solotech
“This is the most important transaction in Solotech’s history. With the addition of SSE Audio, Solotech becomes one of the world’s largest AV and entertainment technology companies. The acquisition will generate growth opportunities and expand the services available to current and future clients on both sides of the Atlantic.”
SSE Audio’s founder, John Penn, will continue to head the group in the UK and the established brands of SSE Audio, Capital Sound, Wigwam and Sigma Products will be maintained.
“Our clients and customers will continue to benefit from the excellent reputation of our brands” explained John Penn, “but over time they will eventually have access to much broader service offering on both side of the Atlantic, as Solotech offers a complete range of AV and Entertainment Technology services.”
Martin Tremblay continued: “We are thrilled that SSE is joining the Solotech team, especially their well-known expertise in audio services. This transaction enables us to pursue our expansion strategy in the European market decisively. With it, we consolidate our unique position as a global player, offering a full-service, 360 degree proposition, including sales, rentals and integration of audiovisual technologies.”
Martin also emphasised the synergies between the North American and European teams, “Solotech and SSE have worked together for years. We share a passion for innovation, quality and people. I’m convinced that our association will benefit our clients. We will provide them with a broader range of even better services”.
Pierre Boivin, chairman of Solotech’s board, believes this acquisition opens the door to significant potential growth for Solotech on a global scale. “The audiovisual industry offers excellent prospects for growth, estimated to increase by 4.3% per year to $53.4 billion US in 2022. Music tours should generate growth of 10% per year by 2022. This transaction will enable us to take full advantage of opportunities that open up to us,” he concluded.
John Penn, summed up, “In recent years SSE Audio Group has gone from strength to strength to become the UK’s largest audio services company, with a world famous name and a reputation for quality service. Working together with Solotech we will continue to serve our clients as we have always done. In time we plan to grow and develop the range of services we offer in the UK and into Europe. Together we now become one of the biggest audio visual and entertainment technology companies in the World. I’m really confident that this move will be good for both us and our clients.”
The Solotech Management Team meet their SSE counterparts in Redditch today
L-R Ian Bidmead, SSE Finance Director; Martin Chouinard, President, Live Productions Division – Canada; Spencer Beard; MD Wigwam Acoustics & SSE Director; Heather Penn SSE Admin & Accounts Director; Martin Tremblay, President and Chief Executive Officer; John Penn, SSE Managing Director; Alex Penn, SSE Sales Director; Philip Giffard, President, Sales and Systems Integration Division; Mick Spratt, Founder Wigwam Acoustics.
Solotech was established in Montreal in 1977 and is now a global supplier of technology solutions in the AV and entertainment sectors. It offers a full-service approach, with solutions in audio, video, lighting, rigging soft goods (such as stage drapes and fabrics) and control/collaboration systems. With some 1,200 employees at its 13 locations in Canada, the United States and Europe. Solotech provides expertise and technology through its Rental Division (tours, corporate and special events) and through its Sales and Integration Division (handling equipment sales, installations and maintenance tech) providing solutions to a wider variety of sectors including sports, cultural facilities, broadcasting, conference rooms and classrooms.