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Topic: Steinway Co sold to Kohlberg & Co  (Read 1620 times)

Offline indianajo

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Steinway Co sold to Kohlberg & Co
on: July 02, 2013, 06:06:53 AM
Steinway, maker of the famous pianos, is being acquired for $438m (£288m) by the private equity firm Kohlberg & Co.  bbcnews 7/1/13

Kohlberg partner Christopher Anderson said the firm was looking to help Steinway expand globally, "while ensuring the artisanal manufacturing processes that make the company's products unique are preserved, celebrated and treasured".

What that means, IMHO, is that Kohlberg will replace as they retire the "artisans' working in New York & Hamburg with workers who will attempt to  perform the same quality process without the benefit of government safety regulation and supervision, health or retirement benefits, limited hours of work, flush toilets and potable running water, or buildings that stand up on their own.

Offline j_menz

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Re: Steinway Co sold to Kohlberg & Co
Reply #1 on: July 02, 2013, 06:10:12 AM
You appear to have missed this thread on the subject: https://www.pianostreet.com/smf/index.php?topic=51648.msg561223
"What the world needs is more geniuses with humility. There are so few of us left" -- Oscar Levant

Offline karenvcruz

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Re: Steinway Co sold to Kohlberg & Co
Reply #2 on: August 04, 2013, 09:55:03 AM
I was deeply saddened when I read this, although I am not familiar with Kohlberg.  I wonder though if they can preserve its quality and reputation given this change.

Offline faulty_damper

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Re: Steinway Co sold to Kohlberg & Co
Reply #3 on: August 05, 2013, 01:54:10 AM
... and Bosendorfer was bought by Yamaha! ;D
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