So, Naim was bought out by Focal a few years ago. What has happened is that the majority owner of Focal, Mr. Mahul I believe, was looking to cash out and this was a way for him to sell to the current management team underneath him with the financial support of the French private equity firm. Think of it as a way for Mahul to monetize his life's work and move on from the company (retaining an advisory role presumably on the speaker side of the business which he built all these years), and allowing the senior management underneath him to take over ownership and take things to the next level.
What was never clear to me was the original intent behind the Focal acquisition a few years back. Clearly, with the Fine Sounds Group doing similar consolidation of some key brands (originally SF and then added Audio Research, Wadia, McIntosh and Sumiko) there are folks using private equity backing to consolidate platforms.
