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Hawaiian company boosts ownership of guitarmaker Fender

Man Playing Guitar
Posted at 10:00 AM, Feb 01, 2020
and last updated 2020-02-01 12:01:07-05

Iconic guitarmaker Fender will have a new majority owner as a Hawaii-based capital company said this week it is upping its ownership by buying out another partner.

Honolulu-based Servco Pacific Inc. will buy the shares of San Francisco-based investment firm TPG Group to become the majority owner of Scottsdale-based Fender Musical Instruments Corp.

The deal is expected to close in February.

Financial terms were not disclosed.

Read more from the Phoenix Business Journal.