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#1
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Sweetwater sold to capital investment company
So Sweetwater to Guitar Center - here we come LOL
Really hope they don’t go the Gibson or GC down spiral…. Well then Vintage King - We are on the way
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Best Regards Christopher #thestruggleisreal ————————————— South Side Music Group WEBHOME ————————————— |
#2
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Re: Sweetwater sold to capital investment company
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Yes, I heard. Why did they build the big new SuperStore 44,0000 Sq Ft. at their home location? Now we know. It's a test of things to come I guess... They will slowly transition to the Capital investments way of bottom line thinking over time I am sure, but hope they don't. The Walmart of Music Stores.. G
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Composer/Sound Designer/Protools 2024.3 Ultimate, MTRXII-TB3, DADMAN MOM, Cisco SG350-10MP EthernetHUB, KLANG:quelle 4 Channel Dante™Headphone Amp, DVS,MADI, Mac Studio Ultra,128 RAM/4TB SSD, Ventura 13.6.6, DP 11.3.1, Logic Pro X 10.8.1 DOLBY ATMOS Facility/MPSE Motion Picture Sound Editors Avid Certified Professional ProTools/Dolby ATMOS |
#3
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Re: Sweetwater sold to capital investment company
Considering how long they’ve been in business (42 years)…. Not surprising that a buyout would happen… I’m sure Chuck wants to retire. It’s interesting how everything just gets bought out or put out of business by something bigger. When I got into this 20 years ago, always tried to do business with American Pro Audio, my local pro audio dealer, or AEI for wiring/connectors/electrical stuff. They both closed up at least 10 years ago, now sweetwater seems like the closest thing to a local business. I have always had a good experience with them, but honestly haven’t bought a lot from them, most of what I buy these days is software, so either directly from the developer or audiodeluxe. Never been a big fan of guitar center, hopefully they preserve sweetwater’s level of service. Last purchase from guitar center I made was a hollow body guitar that was packaged poorly, and arrived with a crack in the body due to a hole in the box. It really looked like whoever shipped it did not care. They gave me a partial refund, but it was not as much as what it would have cost to repair the crack. Oh well… the guitar has that as part of its story, which is part of the fun of owning instruments.
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- John If a MIDI event triggers a sample of a tree falling and there's no one there to hear it, does it make a sound? |
#4
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Re: Sweetwater sold to capital investment company
So I guess this means no more free candy with each purchase?
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Justice C. Bigler www.justicebigler.com Lenovo P50: quad-core i7-6820hq, 64GB, 2TB SSD, Win 10 Pro / Protools Ultimate 2023.6 / HD|Native-TB 2018 MacBook Pro: six-core i9, 32GB, 1TB, Monterey / Protools Studio 2023.6, / DVS / DAR, L-ISA Studio Home/mobile: Focusrite Red 8Pre+HD32R / Clarett 4Pre Road/hotel: Roland OctaCaputre / Apogee One |
#5
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Re: Sweetwater sold to capital investment company
Who cares who owns the company? It would be news if old people would have been kicked out and new ones hired. You are not doing business with a company, you do business with people.
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Janne What we do in life, echoes in eternity. |
#6
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Re: Sweetwater sold to capital investment company
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So that's why it matters who owns a company. A PE firm is usually a sign of a death spiral. Before anyone in the financial industry replies, I realize this is oversimplified but this is the result of a lot of these takeovers.
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~Will |
#7
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Re: Sweetwater sold to capital investment company
Keep in mind that the venture capital blueprint is to bleed the victim dry, then leave the carcass to the buzzards. I give them 5 years max.
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#8
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Re: Sweetwater sold to capital investment company
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__________________
Janne What we do in life, echoes in eternity. |
#9
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Re: Sweetwater sold to capital investment company
My understanding is that Chuck is still 49% owner, is the chairman of the board and his long time executive VP is now CEO.
This is not the first time that Chuck has sold his majority share to an investment company. In the 80’s or early 90’s, he did the same thing but wasn’t happy with the way it was being run so bought back his majority. There are those that feel given, that experience this deal probably has stipulations to prevent it from going south. Sweetwater wants to continue to fill the void that GC is leaving as they diminish, so they need capital. Sure, things could change, but those that I have spoken with and accounts I have read are fairly optimistic that it’s a good thing, and will help Sweetwater grow. Of course, it all depends upon to whom you listen. YMMV
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"If the grass looks greener on the other side of the fence, well, it is likely due to the amount of manure being spread on that side of the fence." Cowboy Bob Squaw Creek Road Studio Pro Tools Ultimate (2024.3.1)| Pro Tools Carbon | Sibelius Ultimate (2024.3.1) | M2 Max Mac Studio w/64GB RAM | 1TB SSD | Mac OS 14.4.1| (Main Rig) | 3.6GHz 8-core 9th-generation Intel Core i9 processor iMac w/40GB RAM | 1TB SSD | macOS Ventura 13.3.1 | Avid Eleven Rack ERXP | Focusrite Clarett 8Pre X | |
#10
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Re: Sweetwater sold to capital investment company
VK are good people. They're not cheap and they don't carry a lot of brands especially the smaller less known ones.
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