McIntosh Laboratory, the Binghamton-based manufacturers of high-end audio gear, has been acquired by a private equity firm.
Highlander Partners of Dallas, Texas has bought the McIntosh Group, which is anchored by the company that's been operating in Broome County for more than 70 years.
McIntosh has been expanding its production capacity at its manufacturing facility on Chambers Street on Binghamton's South Side.
Last September, the company had about 160 employees at the site and was trying to hire more people to meet surging demand for its wide range of audio equipment.
At that time, McIntosh president Charles Randall said the company was busier than it ever had been. He said orders from around the world "went absolutely crazy" after a brief Covid-19 production shutdown in the spring of 2020.
McIntosh equipment has earned a global reputation for high quality and excellent design. Many of the people working at the Binghamton plant have been with the company for decades.
Highlander Partners did not announce how much it paid for the McIntosh Group, which includes Sonus Faber, an Italian-based maker of premium speakers.
It was not immediately known what effect the acquisition may have on the Binghamton operation.
WATCH: This video of a brief walk-through at the McIntosh plant on Binghamton's South Side from last September.
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Contact WNBF News reporter Bob Joseph: firstname.lastname@example.org.For breaking news and updates on developing stories, follow @BinghamtonNowon Twitter.
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