Elektron, the Swedish manufacturer behind electronic instruments such as the Digitakt sampler, has been acquired by investment firm Bonnier Capital for an undisclosed sum.
A statement from Elektron shared today confirms that the "team, brand and product development focus" of the company will remain intact, and day-to-day operations will "continue as usual" for customers, partners and the broader Elektron community. Elektron will maintain "full independence" and will remain based out of its Gothenburg headquarters.
"Joining Bonnier marks an exciting new chapter for Elektron," reads a statement from Elektron CEO Alexander Hellström. "It gives us the support and strategic backing to keep doing what we love most – creating inspiring instruments and pushing the boundaries of sound and performance.
"At the same time, this is just the beginning of a more ambitious journey ahead. Together with Bonnier Capital, we see strong opportunities to grow further, as we expand our role in shaping the future of electronic music creation."
Hellström, along with Elektron's former CEO and owner Jonas Hillman and other members of its management team, will reinvest in the company alongside Bonnier Capital, a decision that the press statement says "reaffirms their ongoing commitment and active participation" in the company's future.
"Elektron has built a truly distinctive position at the intersection of technology, creativity, and music culture," says Bonnier Capital's Investment Director Jonas Von Hedenberg.
"We are deeply impressed by the team’s craftsmanship and vision, and we see strong alignment with our long-term approach to building enduring, creative businesses in the music industry. Our ambition is to support Elektron’s continued growth while preserving the unique identity that has made it so respected by artists worldwide."
Bonnier Capital is the investment arm of Bonnier Group, a family-owned Swedish media group of around 175 companies founded in 1804.
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Though the purchase of a controlling stake in Elektron Music Machines AB marks its first investment in the electronic instrument sector, there are several music-related companies in Bonnier Capital's existing portfolio, including music creation app Starmony and COLORS, an "aesthetic music platform" with a popular YouTube channel and broad social media following.
Founded in 1998 by Daniel Hansson, Anders Gärder and Mikael Räim, Elektron was acquired by Jonas Hillman in 2005, who became the CEO and majority owner. In 2016, Swedish private equity firm Arctos Equity Partners acquired a 28% stake in the company to fund product development and international expansion.
Elektron's acquisition is a significant change in ownership for one of the most respected hardware manufacturers in electronic music-making. Though the press statement promises business as usual and points to the "broader strategic resources" that the investment will provide, customers will understandably be concerned.
The sale is another example of investor capital's ongoing flow into the music technology sector, a trend that has not always had positive results for brands and their customers.
Following a €50m investment from private equity firm EMH Partners in 2017 and a subsequent acquisition by Francisco Partners in 2021, Native Instruments began what many have seen as a slow decline that eventually resulted in the company entering formal insolvency in March this year.
Elektron is a beloved manufacturer with an innovative and idiosyncratic design philosophy that's been hugely influential over its 28-year history – whether that "unique identity" will ultimately be sacrificed to meet Bonnier Capital's growth ambitions remains to be seen.
MusicRadar has reached out to Elektron for comment.
