Taylor Wessing has advised Epiris and other key shareholders on the sale of Audiotonix, a leading manufacturer of audio mixing consoles, to Astorg, a leading European private equity firm. The transaction is anticipated to close in the first quarter of 2017, subject to regulatory approvals.

Funds managed by Epiris are expected to receive proceeds from the sale of £203 million equating to a return of 4.8x original cost and an IRR of 51%, assuming completion by the end of March.

Audiotonix is the global market leader in the design and manufacture of audio mixing consoles for live events and broadcast sound. Its three premium brands (Allen & Heath, Calrec and DiGiCo) support live sound for a variety of purposes such as concerts, TV broadcasting, theatre shows and major international live events.

Private Equity head, James Goold, led the exit transaction with the support of senior associate Jonny Bethell and associate Jerome Kennedy.

James Goold said: “Having acted for Epiris on the acquisitions of Allen & Heath, Calrec and the subsequent combination with DiGiCo to create Audiotonix, we are delighted to have acted on this successful exit. We wish the Audiotonix team further success in the future.”