Jimi Hendrix amp maker Marshall sold to Swedish speaker company

The British amplifier brand favoured by Jimi Hendrix, Eric Clapton and Eddie Van Halen has been bought by a Swedish headphone manufacturer.

Marshall Amplification has been acquired by the Stockholm-based Zound Industries for an undisclosed sum in a cash and shares deal.

The sale brings an end to family ownership of one of Britain’s best-known music businesses.

The Marshall business was founded  in 1962 by Jim Marshall, nicknamed the so-called 'Father of Loud', who owned a music shop in Ealing, London.

The shop was popular with rock musicians such as Deep Purple guitarist Richie Blackmore and The Who's Pete Townshend.

Marshall is said to have been talked into designing amplifiers by rock guitarists who complained they could not get a heavy enough tone from existing kit made by companies such as the US-based Fender.

The company's first amplifier, the Number One, launched with only 23 models manufactured. Mr Blackmore and Mr Townshend are said to have both bought models.

Jimi Hendrix was a fan of Marshall’s products and famously played through a stack of the amplifiers in 1966 after a venue refused to move them to make space for his own amps.

Since then, the Marshall “stack” has become a common sight at rock and alternative music shows.

Marshall launched its most famous model, the more affordable JCM800, in the 1980s. The amp found favour with a new generation of guitarists in the fledgling heavy metal scene and was used by bands including Metallica.

Over recent years, Marshall products such as headphones and bluetooth speakers have become increasingly strong sellers.

Sales at Marshall, which is now based in Milton Keynes, rose 3.6pc to £36.4m in 2021, company filings show. The business made a profit of £5.7m that year despite a "huge increase" in logistics costs.

Zound Industries has made headphones under licence for Marshall since 2010 and does the same for other brands including Adidas.

Zound will rebrand as Marshall Group following the takeover and said the combined entity would have revenues of more than $360m a year.

Jim Marshall, who was given an OBE in 2003 for services to the music industry, passed away in 2012 but his children remain involved in the business.

Family members including his son Terry and daughter Victoria will own 24pc of the new Marshall Group and will take on key management roles, Zound said.

Henri de Bodinat, chairman of Zound Industries, said: “With this game-changing deal, Marshall Group will become the main challenger in our industry and the most exciting alternative to traditional players, bringing even greater innovation and value to clients, employees, and investors alike.”

Victoria Marshall said: "Having worked alongside my father during his later years, I know he would be excited at this direction and the potential to reach a larger worldwide audience with innovation and passion which he always had in spades.”