One of Milton Keynes' most famous and iconic businesses sells for multiple millions to global company

MK’s famous Marshall Amplification business has been sold for multiple millions to a global company.

The Bletchley firm has put MK on the music map since the 1960s, when it was founded by ‘Father of Loud’ Jim Marshall and his son Terry.

Marshall guitar amplifiers rapidly became the leading brand and were seen on all the biggest stages around the world, with guitarists such as Jimi Hendrix, Jimmy Page of Led Zeppelin and Pete Townshend of the Who using them for greater performance.

In 2010 the company entered into a joint venture with Zound Industries, when the Swedish based company started to license the Marshall brand for use on a range of headphones and wireless speakers sold around the world in 90 countries.

Now, a year after it celebrated 60 years of business, Marshall Amplification has been sold to Zound in a multi million pound deal.

But the Marshall name will continue as Zound uses the title ‘Marshall Group’ for its ‘audio-tech powerhouse’, with annual revenues reported to be circa $360 million on day one.

Marshall Group includes all of the Marshall Amplification brands, including Natal Drums, Marshall Records and Marshall Live Agency.

Geoffrey Leaver Solicitors, led by Troy Warner and Danielle Austin, advised the shareholders of Marshall Amplification on the sale.

A spokesman for the law firm said: “In selling Marshall Amplification to Zound Industries, the Marshall family will become the largest shareholder of the newly formed Marshall Group with a 24% shareholding. Terry and his sister Victoria Marshall will join the board of Marshall Group.”

The legendary Jim Marshall died in 2012. His name lives on in the Jim Marshall Charitable Trust, which is now also a shareholder of the Marshall Group.

The Trust will play a key role in ensuring the legacy of the famous Marshall sound and brand by continuing to be involved in charitable causes in the local area, said the Geoffrey Leaver spokesman.

“Jim Marshall knew the power of music and, as a drum teacher, he witnessed first-hand the benefits that people got from picking up an instrument. He also knew that not everyone was fortunate enough to have access to music, which is why he was committed to helping people get just that,” he said.

"Marshall Amplification is a renowned business to MK, and we’re delighted to have advised the shareholders of Marshall Amplification on this cross-border transaction spanning England, Sweden, Vietnam and Hong Kong to ensure the continued success of the Marshall brand with the formation of the Marshall Group.”

Terry Marshall said: “We have always looked for ways to deliver the pioneering Marshall sound to music lovers of all backgrounds and music tastes across the world – and I’m confident that the Marshall Group will elevate this mission and spur the love for the Marshall brand.”

Richard Willis, a member of Jim Marshall’s Board of Trustees and a trustee of the Charitable Trust, said: “This is an exciting time for the company and for the brand but also for the Jim Marshall Charitable Trust.

"The charity retains an interest in the new venture and will have increased scope to consider and to apply charitable donations to the causes Jim was so passionate to support”.