Tracker

1990

The Brothers Move On

Towards the end of the decade, the company was feeling the pressure of being a publicly listed company and having to meet the expectations of the stock market, and at the same time Terry (like all good engineers) knew that what goes up also has to come back down at some point, and had a feeling that the rapidly inflating London stock market bubble was reaching bursting point.

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He decided MIDAS that the best course of action would be to sell up, and although Phil wanted to continue, a vote of the company directors sided with Terry.

The business was sold in December 1990 to the US-based Mark IV Audio, who owned a portfolio of audio brands including Electro-Voice.

Six months later the bottom fell out of the stock market.