Investing.com -- HongShan Capital Group, a Chinese venture capital and private equity firm, has agreed to purchase a majority stake in the Marshall Group.

The deal values the maker of speakers and headphones at 1.1 billion euros ($1.15 billion).

Previously known as Sequoia China, HongShan Capital Group procured its stake from several major shareholders. These include Altor, Telia (ST: TELIA ) Company, Time for Growth, and Zenith VC.

Despite this change in ownership, the founding family of Marshall will still hold onto a significant portion of the company, maintaining a stake of over 20%.

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