Fine Sounds Spa, owner of Sonus Faber Spa and Audio Research Corp., has completed the acquisition of True Wave (dba Wadia Digital), the Saline, Michigan-based manufacturer and marketer of high-end digital audio components.
The acquisition of Wadia Digital is part of Fine Sounds’ strategy of becoming a leading multi-brand player in the two-channel high-end audio sector.
Through the resources provided by Fine Sounds, Wadia Digital will develop and expand the Series 1 ���premium lifestyle” line with a complete product offering.
John Schaffer will join the board of directors of Fine Sounds and will continue managing the Wadia brand with the full support of Fine Sounds’ team.
Fine Sounds and Wadia Digital believe the transaction will deliver important benefits to Wadia’s customers, partners, and employees by providing opportunities for building on Fine Sounds Group’s product development capabilities and financial resources.
“Wadia is proud to join with the great brands of Fine Sounds. It’s their appreciation of legacy and strong leadership that gives us confidence in a bright future,” Schaffer said.
Fine Sounds is managed by chairman Galeazzo Scarampi, who has 25 years of private equity experience in Italy, Asia, and the U.S., and Mauro Grange, CEO of Sonus Faber.
“With the acquisition of Wadia Digital, Fine Sounds acquires the digital know-how needed to face the challenges of the future. I look forward working together with John Schaffer and the rest of the team to build Wadia into an even stronger global brand,” Grange said.