Francisco Partners backs iZotope, creates group with Native Instruments

Francisco Partners Management LP and EMH Partners GmbH are backing a new group, with the private equity duo pairing up music and audio technology companies iZotope Inc. and Native Instruments Holding GmbH.

Native Instruments and iZotope will each continue to operate independently, and "there will be no structural changes to either entity, with both continuing under the same leadership," a release on the founding of the group said.

iZotope's co-founder and CEO Mark Ethier and Native Instruments CEO Constantin Koehncke "will work alongside each other on the future and vision of this new alliance as co-presidents of the group," it added.

Francisco Partners was advised by Kirkland & Ellis on its investment in iZotope in connection with the partnership, a release from the law firm said.

The technology-focused private equity firm agreed to acquire a majority stake in Native Instruments from EMH Partners in January, with EMH Partners and the founding shareholders remaining as significant minority shareholders.