FMIC meaning in Business ?

Answer:

What is Fender Musical Instruments Corporation mean?

The Fender Musical Instruments Corporation (FMIC, or simply Fender) is an American manufacturer of stringed instruments and amplifiers. Fender produces acoustic guitars, bass amplifiers and public address equipment, but is best known for its solid-body electric guitars and bass guitars, particularly the Stratocaster, Telecaster, Jazzmaster, Precision Bass, and the Jazz Bass. The company was founded in Fullerton, California by Clarence Leonidas "Leo" Fender in 1946. Its headquarters are in Los Angeles, California.

The FMIC is a privately held corporation, with Andy Mooney serving as the Chief Executive Officer (CEO). The company filed for an initial public offering in March 2012, but this was withdrawn five months later. In addition to its Los Angeles headquarters, Fender has manufacturing facilities in Corona, California (US) and Ensenada, Baja California (Mexico).

As of July 10, 2012, the majority shareholders of Fender were the private equity firm of Weston Presidio (43%), Japanese music distributors Yamano Music (14%) and Kanda Shokai (13%), and Servco Pacific (5%). In December 2012, TPG Growth (the middle market and growth equity investment platform of TPG Capital) and Servco Pacific took control of the company after acquiring the shares held by Weston Presidio. In January 2020, Servco Pacific became the majority owner after acquiring the shares of TPG Growth.

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