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.
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You have the opportunity to select from a range of new and pre-owned upright and grand pianos, all available at a special price for three days only.
Pianos from Family of Steinway Designed Pianos including Steinway & Sons, Boston and Essex as well as Yamaha, Kawai, Bosendorfer, Kemble, Brimsmead and Broadwood will be available.
Upright pianos from $3,000
Grand pianos from $7,000
Friday 14th June (By Appointment)
Saturday 15th June (By Appointment)
Sunday 16th June (Open to Public)
To make an appointment, phone (02) 9958 9800 or email email@example.comRead More
Southern Highlands businessman Ted Springett was well known not only for his business ventures and love of community, but also his passion for music.
A long-time friend of Theme & Variations Piano Services, it was always Ted’s dream to own a magnificent piano from the stunning collection of Steinway & Sons grand pianos, and for him this became a reality many years ago when he purchased his first Steinway & Sons piano, a model B-211. In 2008, Ted took the opportunity to upgrade to a full model D-274 concert grand piano after it was first used in the Southern Highlands International Piano Competition.
You don’t have to go far to learn just how much of an impact Ted Springett and his family have had on the Bowral community and its surrounds. Simply typing Ted’s name into a Google search will reveal page after page testifying to Ted’s community spirit and his ongoing efforts to give back to the community through the establishment of the Springett Foundation, donation of property to various community ventures and much more.
Aged 92, Ted Springett passed away at the end of 2012, and it is his family’s wish that his beloved Steinway piano be made available to somebody who can truly appreciate and love the instrument.
If you would like to make an appointment to view and play the piano, please contact Theme & Variations Willoughby showroom on (02) 9958 9888 or email firstname.lastname@example.org