Carlyle Backs RØDE’s Growth with $150m+ Debt Deal

Global investment firm Carlyle (NASDAQ: CG) today announced that it has provided debt financing to The Freedman Group, the parent company of RØDE. The debt financing will be used to support RØDE’s growth and international expansion, including funding its acquisition of Mackie for $150m, an international designer and manufacturer of pro-audio products. The transaction was arranged by funds managed by Carlyle’s Global Credit platform and amicaa, its funds’ Australia joint venture partner.

RØDE is a global leading designer and manufacturer of audio technology with products spanning filmmaking to home studio and podcasting. Founded in 1967, RØDE’s products are now exported to 118 countries globally with sales totalling more than 2.5 million units in 2021. The company has an international team of more than 450 people across highly skilled disciplines including audio and acoustics engineering, electronics engineering, robotics and injection-mould technology.

Taj Sidhu, Head of European and Asian Private Credit at Carlyle and David Hoskins, Head of Private Debt at amicaa, commented, “Through our Australia joint venture, we are excited to support RØDE, a multi-generational founder-owned business that has a relentless focus on innovation and quality, and we look forward to supporting the company in its next stage of growth. This transaction, which we believe represents one of the largest private credit deals in Australia in the past year, is a testament to the combined strengths of the deep local knowledge and relationships of amicaa and Carlyle’s Global Credit platform.”

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“We are grateful for the support of Carlyle and amicaa. This financing transaction marks a significant milestone in our growth trajectory and international expansion, as well as our long-term sustainability goals,” said Peter Freedman AM, Founder and Chairman of RØDE.

Carlyle Global Credit manages $150bn in assets as of September 30, 2023. It is an active provider of private credit solutions across the capital structure, including senior secured loans, unitranche loans, and junior debt.

About amicaa

amicaa is a specialist investment management and corporate advisory business. Its investment management arm manages capital for institutional and wholesale investors seeking attractive income-oriented returns from Australian and New Zealand private debt investments. Its corporate advisory arm provides independent advice to companies when making important strategic decisions, such as strategic mergers, acquisitions and joint ventures or raising equity capital.

Source: Carlyle

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