d&b Group acquired by Providence Equity Partners

d&b Group, a German provider of professional audio equipment and related solutions for live entertainment, was acquired by Providence Equity Partners.

Why it matters: The company was already under private equity ownership, but its new owner says it's committed to growth amid the continued growth of live events.

Details: Previous owner Ardian said in a press release today that it sold its majority stake to Providence and that d&b also reinvested.

• Ardian acquired d&b in 2016. It said over those seven years the company reported a double-digit compound annual growth rate, even amid the COVID shutdown of live events, and that the number of employees tripled to more than 1,000.
• "d&b bears the hallmarks of a classic Providence investment – it is a business with innovation at its core, clear market leadership and loyal customers," Providence managing director Robert Sudo said in a statement.