Catalyst Acoustics Group Acquires Madrid, Inc., Expanding Portfolio

May 15, 2024

LITTLE ROCK, ARKANSAS – May 15, 2024 –  Catalyst Acoustics Group, Inc. (“Catalyst Acoustics Group” or “CAG”), a portfolio company of The Stephens Group, LLC (“Stephens Group”) and a platform for an elite group of acoustic, seismic, vibration and noise control companies that together offer the broadest portfolio of noise control solutions in the market, announced today that it finalized its acquisition of the assets of Madrid, Inc., a California-based leader in wood products for architectural ceilings and wood elements.

Madrid, Inc. is distinguished in the industry for its premium acoustical wood solutions, providing customizable veneer and stain options showcased in locations worldwide.

Regarding the acquisition, Catalyst Acoustics Group’s CEO, Joe Lupone, sees this as a strategic advancement for both businesses. “Madrid’s unique and innovative wood acoustics collection aligns seamlessly with our expanding portfolio,” Mr. Lupone said. “It is an exciting time to welcome the dedicated Madrid team to our family and provide the support and guidance required for the business to grow as a leader in the market.”

Maintaining autonomy within the CAG portfolio, Madrid will retain independent channels for products and services, while gaining access to CAG’s deep functional expertise, financial backing, and robust support teams.

Grant Jones, Managing Director at Stephens Group, added, “We are pleased to support Catalyst Acoustics Group in their acquisition and welcome Madrid to our family of companies. Catalyst Acoustics Group continues to execute its M&A strategy, identifying and partnering with businesses providing premier products in the acoustic, seismic, vibration and noise control markets.”

“Being acquired by Catalyst Acoustics Group is the right move for our organization to set us on course for expansive growth in the years ahead,” said Robert Ellis, President, Madrid, Inc. “By aligning with this world-class group of acoustic and noise control companies, we are better positioned to reach new levels of success overall.”


Based in Agawam, Massachusetts, Catalyst Acoustics Group is the parent company of an elite group of acoustic, seismic, vibration and noise control companies that together offer the broadest portfolio of noise control solutions in the market today. The independent brands, channels to market, products and services offered by each business remain unique, while leveraging the scale, deep functional expertise, broad channel reach and significant financial resources.


The Stephens Group, LLC is a private investment firm that partners with talented management teams to help build valuable businesses. Backed by the resources of the Witt Stephens, Jr. and Elizabeth Campbell families, the firm combines the operational expertise of a private equity firm with the flexibility provided by long-term capital. With over $2 billion of private equity assets under management, the firm has a long history of providing informed, sophisticated expertise and working with owners and managers to help them successfully achieve their strategic visions and build long-term value. Since 2006, Stephens Group has invested in over 50 companies, targeting investments in industries across the U.S., including industrial and commercial products and services, specialty distribution, technology infrastructure, and vertical software.


Allie Laborde
Managing Director, Business Development
The Stephens Group, LLC