Comment by al_borland
4 hours ago
Apparently this started back in 1985.
> In 1985, Bill Schultz and a group of investors—including company employees and external companies like Servco Pacific Capitol—purchased Fender from CBS for $12.5 million and renamed it "Fender Musical Instruments Corporation" (FMIC).
> Ownership changed in December 2001, when private equity firm Weston Presidio bought a controlling stake in Fender for $57.8 million.
> Longtime investor Servco instead bought out Weston Presidio, with TPG Growth as an equal partner.
> In 2020, Servco bought out TPG Growth's stake, making them Fender's majority owner.
A long history of private equity ownership. I'm not sure CBS owning them would be much better, which started in 1965.
As much as I like to blame private equity for the downfall of once great companies, I'm not sure how to feel about this one, as they've been investor owned and passed around for decades.
IIRC pre-GFC FMIC has a generally good reputation among guitarists, and certainly in comparison to the preceding era of Fender, when it was owned by CBS.