Pioneer and KKR to sell DJ equipment arm
Turntables and Mixers spun-off has over 60% market share
KKR and Japan’s Pioneer are planning to sell a collectively held DJ equipment company with a buyer anticipated in autumn.
Pioneer DJ is expected to attract concern from non-Japanese businesses and significant investment funds. The bidding phase is scheduled for summer or fall.
In 2015, the Japanese firm sold about $550 million to KKR for an 85.05% interest in Pioneer DJ, while the remainder was still on hold. The spun-off operated a 60-70% share of the world’s mixers, turntables, and other DJ gear market, producing billions of yen in annual income.
Pioneer DJ was particularly influential in Europe, and the U.S. Pioneer chose to give priority to the activity of its on-board unit, which engaged the offloading of its audiovisual components and others. However, the funds of the company began to deteriorate. In January, their investors decided to the bailout of the Hong Kong buyout company Baring Private Equity Asia. Pioneer restructures its company as an entirely held subsidiary of Baring.