Goodwin Procter represented Gibson Guitar in its acquisition of substantially all of the assets of the Stanton Group, a designer and manufacturer of professional audio products under its Cerwin-Vega!, KRK Systems and Stanton DJ brands. The operations and brands of the Stanton Group will be incorporated into Gibson Pro Audio, a new division of the company which will offer loudspeakers, headphones, monitors, DJ gear, mixers, accessories and more.
Founded in 1890 in Kalamazoo, Michigan by Orville Gibson, Gibson Guitar helped revolutionize the development of the acoustic and electric guitars. In addition to the ES-175, ES-335, Flying V, Explorer and Firebird, Gibson is the maker of the iconic Les Paul guitar. Made famous as the guitar of choice for musicians such as Jimmy Page, Keith Richards, Eric Clapton and B.B. King, the Les Paul is a solid-body electric guitar that was widely adopted by rock and roll and blues guitarists following its launch in 1952.
“It’s a special privilege to work with a recognized industry leader like Gibson Guitar,” said John LeClaire, the chair of Goodwin’s Private Equity Practice. “Both Gibson and Stanton share deep historical roots in the music industry, and the strength of Stanton’s brands will be central to launching Gibson’s exciting new future in pro audio.”
The Goodwin deal team was led by LeClaire, and included partners Jeff Klein, Rob Hale and Howard Cubell.