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Audio Research Corp Begins Its Next Chapter as AR Tube Audio Corporation

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Minnesota Judicial Branch logo

The Minnesota District Court for the Fourth Judicial District in the County of Hennepin held a hearing on Tuesday to determine the final disposition of the insolvent Audio Research Corporation which is operating under Assignment for the Benefit of Creditors (ABC) – a form of receivership. The assignee in this case, Patrick Finn of Lighthouse Management Group had executed an Asset Purchase Agreement (APA) with Acora Acoustics and was seeking an order from the judge to approve the APA and the transfer of the assets free and clear of any and all liens to Acora Acoustics.

See more on this end of one era of Audio Research…and the beginning of the next

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Will Audio Research Corp Actually Be Acquired by Acora Acoustics?

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Audio Research Corp tube amplifier

So much has transpired over the last two weeks in the matter of Audio Research Corp’s status as it operates under Assignment for the Benefit of Creditors, a form of receivership. Several more documents have emerged that serve to shed more light on just precisely what is going on.

See all the latest on the status of Audio Research Corp’s journey to a new owner

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Audio Research Corp Assignee Files New, More Revealing Papers with Court

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Audio Research I/50
Audio Research I/50 integrated amplifier

In a new round of filings from the designated “Assignee” in the matter of Audio Research Corporation’s filing of an Assignment for the Benefit of Creditors, we actually learn a few new things and get a little more detail on the state of affairs for the beleaguered but popular high-end audio brand. And these new details help to put a finer point on just where things stand at the moment for the company.

See more on what the Assignee told the court…

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Minn. Bank Asks Court for $1.5M+ Judgment Against Audio Research Corp & Trent Suggs

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Audio Research I-50 integrated amplifier

Minnesota Bank & Trust (MB&T) of Minnetonka, MN has filed documents with the Fourth Judicial District of the Minnesota District Court notifying the court of the existence of a secured agreement with Audio Research Corporation (ARC) and its principal owner, Trent Suggs. This agreement, the bank wants the court to know, has been subject to “Numerous events of default” which “are continuing.”

With this being the case, the bank is asking the court to issue a judgment for the amount owed, plus accrued interest, plus attorneys’ fees, and other collection costs – an amount in excess of $1.5 million.

See more on events surrounding Audio Research Corp & Suggs

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Nice Appoints Mark Ohlwiler as Regional Sales Manager

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Nice logo

Nice North America announced this week that it has appointed Mark Ohlwiler as its new Regional Sales Manager in the West region. Ohlwiler’s appointment was effective as of April 3, 2023.

Learn more about this appointment of Mark Ohlwiler by Nice

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Magnum Dynalab Acquired by Colquhoun Audio Labs

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Magnum Dynalab MD-109 tuner
Magnum Dynalab MD-109 tuner [Click to enlarge]

This week we learned that Colquhoun Audio Laboratories Limited (CALL), the folks who also own Axiom Audio and Bryston, Ltd, have made a new acquisition, this time buying Magnum Dynalab, a highly regarded manufacturer of high-performance tuners and vacuum tube audio products. The company says the transaction was closed on March 31, 2023. The terms of the deal were not disclosed.

Learn more about the acquisition of Magnum Dynalab by Colquhoun Audio Labs

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Italian High-End Audio Maker Gold Note Selects Fidelity Imports as U.S. Distributor

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Photo of a Gold Note turntable

Firenze, Italy-based high-end audio manufacturer Gold Note announced this week that it has selected Fidelity Imports as its exclusive U.S. importer and distributor. According to Gold Note’s announcement, the appointment will take effect starting April 1, 2023.

See more on Gold Note and Fidelity Imports

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Major Transition Hits Specialty Stalwart Parasound as Founder Retires

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Parasound Halo JC1+ amplifier
Parasound Halo JC 1+

Parasound is a unique company. A long-time specialty segment stalwart, the company has been delighting audio enthusiasts for more than forty years! That is no small achievement when you consider the twists and turns of the specialty segment over that time frame.

And the credit for that success is largely due to the commitment to quality – and, frankly, just the bulldog temerity – of founder and CEO Richard Schram. So it is a development worthy of note that, yesterday, Schram announced his retirement from the company and its sale to a new owner.

Learn more about Schram’s retirement and Parasound’s transition to new ownership

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Acoustic Energy Loudspeakers Names Fidelity Imports as U.S. Business Partner

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Acoustic Energy website with Fidelity Imports logo

London-based Acoustic Energy Loudspeakers Ltd., announced today it has appointed growing high-end specialty distributor Fidelity Imports as its “exclusive new business partner for the US market.” Fidelity will take over full responsibility for sales and support of its line throughout the U.S.

See more on Acoustic Energy’s appointment of Fidelity Imports

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Big Changes Hit Sound United as Terminated President Duffy Exits Today

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Kevin Duffy, head of Sound United terminated by Masimo
Kevin Duffy

Sound United VP James Krakowski Announces Departure As Well

On April 11, 2022, Masimo Corp. appointed Kevin Duffy – then CEO of Sound United – President of the Consumer Division of Masimo Corp. as part of its $1 billion acquisition of Viper Holdings Corp., Sound United’s parent company. Duffy was offered a fairly rich package, with salary and certain other benefits and perks that could be worth millions of dollars, in some cases after a vesting period.

Then, just ninety days later, the company filed paperwork with the SEC saying that it had terminated Duffy “without cause.”

See more on Duffy’s exit from Sound United and Masimo

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