Maximum volume: Marshall Amps’ mega-money swedish selloff

According to Reuters, the Swedish owner of the venerable Marshall amplifier brand, the Marshall Group, has sold the majority of its shares to the Chinese private equity firm HongShan Capital Group. According to reports, the acquisition price is an astounding €1.1 billion. Additionally, for €99 million, Swedish telecom provider Telia sold HongShan its 9.6% share in Marshall Group. The transaction is pending regulatory clearance. Over the years, artists like Jimi Hendrix, AC/DC, Guns ‘N Roses, Eric Clapton, and The Who have all used Marshall amplifiers. Marshall’s founder Jim Marshall’s family will continue to own 20% of the business. Since its founding in 2005, HongShan has made investments in several businesses, such as Alibaba Group and ByteDance, the company that owns TikTok.