TAG McLaren, once the shining hope of the UK audio industry, has been sold to the International Audio Group (IAG) reports Brit trade magazine ERT.
The deal will apparently allow TM to make a honourable exit from the business while protecting the interests of its existing customers.
Although the news won’t surprise anyone in the UK AV industry as the company had been in financial difficulty for some time, it is still tinged with sadness.
After its launch in the late 90s the company built up a superb portfolio of AV products noted for their innovative design, excellent build quality and high-end performance.
Sadly the company failed to build up much of a business beyond the UK and Germany and in particular didn’t manage to crack the crucial US market. The company’s name and its associations with F1 racing, a definite plus in Europe, meant little in the States where F1 is very much a minority sport.
IAG, which has taken over the company, is a Chinese owned group that already includes the Wharfedale and Quad brands.