Have you ever been frustrated by the fact that you can take a difficult passage, work on it for a bit, get it sounding pretty good, but return to the practice room the next day to discover that you’re back at square 1? That nothing has really changed? And despite how good it sounded yesterday, now it sounds just as bad as it did before you worked on it?Read More
From Classic to Modern and the launch of Opus 50,000
Bösendorfer Vienna held a special concert to commemorate their 185th birthday on Tuesday, 22nd October 2013. Performers included Paul Badura-Skoda, Valentina Lisitsa, Jan Jiracek von Arnim, Maria Mazo, Carlo Grante, Janoska Ensemble, Marialy Pacheco, Daniel Serafin.
This was also be the official release of their 50,000th special edition model piano, which evokes the interior of the Musikverein, Vienna’s historic concert hall. Like the hall, the instrument is bedecked with gold leaf and caryatids – although the final effect is softly neo-classical, in stark contrast to the recent Bechstein ‘golden grand’ . The piano is a 225 model that sports four extra keys in the bass to contra F. On average a Bösendorfer takes a year to make and special models can take considerably longer. So ‘Opus No 50.000’ did not exactly roll off the production line. (In fact, Mr Kemble revealed that it was only just completed in time for the launch).
Steinway Musical Instruments Inc was founded in 1853 in a loft on Manhattan’s lower west side. It is most famous for Steinway & Sons pianos, but today its products include Bach Stradivarius trumpets, Selmer Paris saxophones, C.G. Conn French horns, Leblanc clarinets, King trombones, and Ludwig snare drums.
Steinway announced on Monday July 1st that it has entered into a definitive agreement to be acquired by an affiliate of Kohlberg & Company, a global private equity investment firm, in a transaction valued at approximately $438 million. Upon the completion of the transaction, the Company will become a privately held company.
Under the terms of the agreement, an affiliate of Kohlberg will commence a tender offer to acquire all of the outstanding shares of the Company’s common stock for $35.00 per share in cash, representing a premium of 33%. The board of directors of the Company unanimously recommends that the Company’s stockholders tender their shares in the tender offer.
“Kohlberg’s long history of collaboration to grow and expand some of the world’s leading consumer brands makes us an ideal partner for Steinway to accelerate its global expansion, while ensuring the artisanal manufacturing processes that make the company’s products unique are preserved, celebrated and treasured,” Kohlberg partner Christopher Anderson said.
Shares of Steinway Musical Instruments Inc. jumped $4.62, or 15 percent, to $35.05 in morning trading. Shares this year have risen close to 70 percent.