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.
