It is clearly amazing how profitable it can be to invest into a niche industry. Here is a good example from the world of professional audio. When Electra Partners recently sold Audiotonix, the professional audio group encompassing DiGiCo, Calrec and Allen & Heath to the French investor Astorg, the value of the deal was $254 million. Back when Electra Partners initially acquired Allen & Heath in 2013 the value was £42 million. They then acquired Calrec in 2014 and merged the