Scott Bagby and John Bagby have announced the purchase of Ontario-based Paradigm Electronics, Anthem Electronics, and MartinLogan Loudspeakers, effective May 10, 2019.
Scott Bagby, one of the original founders of Paradigm Electronics, continues as chairman and assumes the role of CEO. John Bagby, who was active in many areas in the business over the last several years, takes on the role of managing director.
“This is an exciting time in the industry and we look forward to the opportunity to move into the future with all three brands. We will continue to maintain and adhere to the core values of each brand as we strive for continuous innovation to deliver products with superior performance and value. We will operate with integrity and respect, building on the great relationships and strong friendships created over the years. This is our commitment to the industry,” Scott said.
Industry partners across all three brands are expected to engage in a renewed commitment on ease of doing business, focusing on enhanced training and support. The companies also stated that with their years of combined audio experience and entrepreneurial backgrounds, John and Scott are “well positioned” to move the three brands into the future.
In 2005, Shoreview Industries, a Private Equity firm out of Minneapolis, acquired a controlling interest in Paradigm with Scott continuing with a minority position. Together they created SVI Holdings which then acquired MartinLogan Loudspeakers a short time later. With the purchase of the three brands completed last week, Shoreview Industries has exited the business.