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#1832115 - 10/29/07 12:32 PM Fender buys Genz Benz (and Ovation, and LP...)
zeronyne Moderator Offline
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So Fender is buying Kaman Music Corporation.

Kaman's brands:

Ovation
LP and Toca
Gibraltar
Genz Benz
Hamer

Kaman is also the exclusive distributor of Takamine guitars and Gretsch drums, and they are the US Rep for Sabian.

The fact that this deal is being done for a mere $117 million in cash is really indicative of how TINY the M.I. industry really is.
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#1832145 - 10/29/07 01:04 PM Re: Fender buys Genz Benz (and Ovation, and LP...) [Re: zeronyne]
NUTT Offline
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Wow. I hope they don't screw up Genz Benz or Takamine.
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#1832169 - 10/29/07 01:21 PM Re: Fender buys Genz Benz (and Ovation, and LP...) [Re: NUTT]
dcr Offline
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Genz Benz makes really awesome stuff. I hope they still will.

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#1832202 - 10/29/07 02:02 PM Re: Fender buys Genz Benz (and Ovation, and LP...) [Re: dcr]
saxofunk Offline
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*void*


Edited by saxofunk (10/31/07 05:40 AM)
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#1832277 - 10/29/07 04:21 PM Re: Fender buys Genz Benz (and Ovation, and LP...) [Re: saxofunk]
Eric VB Offline
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Gah! My Ovation!

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#1832351 - 10/29/07 06:37 PM Re: Fender buys Genz Benz (and Ovation, and LP...) [Re: Eric VB]
jeremy c Offline
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SWR survived the move to the Fender umbrella with no ill effects that I have seen. (Other than the departure of Bryan Beller...that would have happened eventually anyway: he's too good a player to be working full-time for an instrument company.)

The current ownership Fender is quite different from the CBS days when an acquisition like that of Rogers Drums basically meant goodbye, Rogers.

I'm not too crazy about what happened to Guild when it got bought out by Fender. Where are the quality Guild guitars like the ones made in yesteryear? Guild was located in Westerly, R.I., a little town on the ocean in my home state. (Weird footnote: even though R.I. is one of the most eastern states in the union, most beaches are facing south. Westerly is the western-most town in the state and is a tiny beach town.)

I am happy with my DeArmond Ashbory. (DeArmond is another brand name bought by Fender).

Jeff Genzler is a nice guy, (He built a custom case for me years ago) , and I hope the deal works well for him as well as the present and future users of Genz Benz gear.


Edited by jeremy c (10/29/07 07:16 PM)
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#1832355 - 10/29/07 06:44 PM Re: Fender buys Genz Benz (and Ovation, and LP...) [Re: jeremy c]
Rocky McDougall Offline
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I am wondering if Kaman Music Corp. went about looking for a buyer or were they approached by Fender?
Rocky
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#1832396 - 10/29/07 07:50 PM Re: Fender buys Genz Benz (and Ovation, and LP...) [Re: dcr]
Danzilla Offline
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 Originally Posted By: dcr
Genz Benz makes really awesome stuff. I hope they still will.


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#1832403 - 10/29/07 07:59 PM Re: Fender buys Genz Benz (and Ovation, and LP...) [Re: Danzilla]
Tim C Offline
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Hopefully it will just be a change in which set of hands ultimately collects the money and not in product quality. If they start making cheap crap under the good names they just purchased, the names will lose their meaning and fender will have wasted millions, t would make the most sense to keep making good gear (that is, unless they just did it with the intention of monopolizing the industry)
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#1832513 - 10/30/07 04:28 AM Re: Fender buys Genz Benz (and Ovation, and LP...) [Re: zeronyne]
rumpelstiltskin. Moderator Offline
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 Originally Posted By: zeronyne
The fact that this deal is being done for a mere $117 million in cash is really indicative of how TINY the M.I. industry really is.


loud tech purchased SLM for $70M. just for reference, that's way smaller than peavey and many of the pro sound companies.

robb.
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#1832614 - 10/30/07 07:53 AM Re: Fender buys Genz Benz (and Ovation, and LP...) [Re: rumpelstiltskin.]
getz out Offline
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 Originally Posted By: robb.

loud tech purchased SLM for $70M. just for reference, that's way smaller than peavey and many of the pro sound companies.


I believe the purchase of SLM was about $44 million.

Loud Technologies (NASDAQ: LTEC) owns the following brands now; Alvarez, Ampeg, Crate, EAW, Knilling, Mackie, SIA and TAPCO.

LTEC leveraged to purchase SLM. They currently carry about $40 million in debt.

LTEC is considered a moderately large player in MI. LTEC had net sales last year of just $215 million, income (profit) of $625 thousand, and a market capitalization of under $40 million.

That is VERY tiny.

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#1832673 - 10/30/07 09:33 AM Re: Fender buys Genz Benz (and Ovation, and LP...) [Re: getz out]
rumpelstiltskin. Moderator Offline
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exactly. the company i work for is in the $6B to $8B range, and we aren't very large in the grand scheme of things. and people wonder why the industry evolves so much slower than, say, mobile phones or consumer electronics.

still, i'm surprised kaman music is so small. i know genz benz is popular in circles, and that it isn't like ampeg or peavey in saturation, but i am still surprised.

robb.
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#1832693 - 10/30/07 10:17 AM Re: Fender buys Genz Benz (and Ovation, and LP...) [Re: rumpelstiltskin.]
getz out Offline
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Agreed... forget about Genz Benz, but you cannot throw a rock without hitting a Takamine (today) or an Ovation (10 years ago).

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#1832769 - 10/30/07 12:58 PM Re: Fender buys Genz Benz (and Ovation, and LP...) [Re: getz out]
jeremy c Offline
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O.T. reply:

I asked a friend about a bandleader whom he had worked with and who had just called me, "what's he like?"

My friend replied, "another a--hole with an Ovation."

And we both knew exactly what that meant.
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#1833098 - 10/31/07 05:46 AM Re: Fender buys Genz Benz (and Ovation, and LP...) [Re: jeremy c]
rumpelstiltskin. Moderator Offline
spinning gold from straw
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sadly, i know exactly what that means, too. you know a lot of funny people.

robb.
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#1833139 - 10/31/07 06:56 AM Re: Fender buys Genz Benz (and Ovation, and LP...) [Re: rumpelstiltskin.]
getz out Offline
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I concur.

Great line, I'll use it someday.

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