HongShan to Buy Hendrix Amp Maker in $1.1 Billion Deal (1)

HongShan Capital Group has agreed to buy a majority stake in audio equipment maker Marshall Group AB in a deal valued at about $1.1 billion.

The founding Marshall family will retain a more than 20% stake in the Stockholm-based company, whose guitar amplifiers have been used by rock legends including Jimi Hendrix and Eric Clapton, according to a statement Friday. The announcement confirmed an earlier Bloomberg News report that HongShan, the investment firm formerly known as Sequoia China, was nearing a deal for Marshall.

Marshall home entertainment speaker systems.

Photographer: Krisztian Bocsi/Bloomberg

HongShan is a venture capital and private equity firm investing across technology, health care ...