KKR set to acquire Pioneer DJ by early 2015
A little over a week after publicly denying that the company would sell its lucrative DJ equipment business, it seems like Pioneer has indeed opted to sell. KKR & Co., a New York based private equity firm which specializes in leveraged buyouts, reportedly agreed to buy the Japanese company’s shares for just north of $550 million. The deal would see the birth of an independent Pioneer DJ company, which would be owned 85.05% by KKR and 14.95% by Pioneer.
No stranger to the world of electronic music, Pioneer has been an industry standard since the release of the first CDJ in 1992. Twenty-two years later, the company’s DJ equipment division is at the height of the market, making it a good time to sell in the eyes of Pioneer. The deal is likely to be completed by March of 2015 according to Nasdaq.