Phoenix Gold sold to investment group

PHX AP Acquisitions, a Portland, OR, area investment group, has announced its purchase of pro audio company Phoenix Gold. The resulting new company will be capitalized and become a private limited liability company (LLC). The new executive team has appointed Jonathan Cooley as CEO and Tom O'Mara as president, with additional management changes to be announced soon.

The company's new direction will focus on products, revamped brand positioning and channel strategies, which will be implemented during the next few months as part of the new business plan. As part of the new plan, all domestic manufacturing will be terminated and the resources will be allocated to the core business focus.

The new firm will distribute all products carrying the Phoenix Gold, Carver and AudioSource brands. O'Mara said that company officials would soon meet with its sales and distribution partners to insure a seamless transition to the new organization.

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