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Article: Tuned-up assets: equity firm Transom puts its money where the music is, such as a mic company and a merchandise business.(This Week: DEALMAKING)(Transom Capital Group)(Company overview)
- Article from:
- Los Angeles Business Journal
- Article date:
- August 24, 2009
- Author:
CopyrightCOPYRIGHT 2009 CBJ, L.P. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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SKIPPER Wise could see that his microphone company was falling apart.
Blue Microphones, a Westlake Village company that specializes in high-end audio recording equipment, had been going strong for more than a decade, but by 2008, Wise knew that the business wasn't keeping up with things--operations were disorganized and orders weren't being filled.
"We just didn't have the money or the skill set to make the company profitable enough," Wise said. "Being around as long as I had, I was able to recognize that I was at the end of the line."
So he sold a majority stake in the company to Transom Capital Group, a newly established Century City private ...