Rane founders announce sale and retirement
WORLD: On their 35th anniversary, Rane co-founders and owners, Linda Arink and Dennis Bohn, have jointly announced their retirement and sale of the US-based company to InMusic LLC. Incepted in 1981, the brand has become synonymous amongst its worldwide users as a developer and manufacturer of innovative, useful and ultra-reliable products within the DJ and commercial sound industry. The transaction is due be completed this summer. After the sale, Ms Arink and Mr Bohn plan to step down and retire.
‘Rane will continue some operations out of the Mukilteo, Washington State headquarters,’ explained Ms Arink. She furthered that with the added resources, engineering talent and additional IP, new owners InMusic are an ideal buyer for Rane Corporation that will allow it to grow now and in the future. InMusic LLC is the current owner of Akai, Alesis, Alto, Denon, M Audio, Marantz and Numark.
Rane has long been respected as a safe, stable and nurturing business environment for its employees, where 50 per cent have worked at the company for over 15 years. It is understood, however, that the new owners are permanently displacing the majority of this 60-strong workforce at the end of July. The DJ business is to be absorbed into the Numark/Denon divisions at InMusic’s headquarters, whereas the smaller HAL/install division will remain in place in Mukilteo for the time being.