Violinist Yehudi Menuhin played near a Steinway piano at London's Royal Albert Hall in 1930.  Violinist Yehudi Menuhin played near a Steinway piano at London's Royal Albert Hall in 1930.  Theodore Steinway of the eponymous company gave this maple piano, with golden eagles for legs and with depictions of American dance throughout the years, to President Franklin Roosevelt.  Theodore Steinway of the eponymous company gave this maple piano, with golden eagles for legs and with depictions of American dance throughout the years, to President Franklin Roosevelt.  British pianist Dame Myra Hess played a Steinway piano at the National Gallery in London. Today, the company says more than 98% of the world's active concert pianists perform on Steinway pianos.  British pianist Dame Myra Hess played a Steinway piano at the National Gallery in London. Today, the company says more than 98% of the world's active concert pianists perform on Steinway pianos.  The Dave Brubeck Quartet, an American jazz band, performed in London in May 1964.  The Dave Brubeck Quartet, an American jazz band, performed in London in May 1964.  Beatles fan Kenji Goshima, from Nagoya, Japan, took a closer look at a Steinway piano at a 1997 auction of Beatles memorabilia in Tokyo. John Lennon had used the piano.  Beatles fan Kenji Goshima, from Nagoya, Japan, took a closer look at a Steinway piano at a 1997 auction of Beatles memorabilia in Tokyo. John Lennon had used the piano.  An employee worked on a piano at the company's workshop in the New York borough of Queens. Germany immigrant Henry Engelhard Steinway founded the company in 1853 in a Varick Street loft in New York, where the piano division is still based.  An employee worked on a piano at the company's workshop in the New York borough of Queens. Germany immigrant Henry Engelhard Steinway founded the company in 1853 in a Varick Street loft in New York, where the piano division is still based.  An employee fine-tuned a Steinway piano at the Queens workshop. Over the years, Mr. Steinway and his sons—C.F. Theodore, Charles, Henry Jr. and Albert—helped to develop the modern piano.  An employee fine-tuned a Steinway piano at the Queens workshop. Over the years, Mr. Steinway and his sons—C.F. Theodore, Charles, Henry Jr. and Albert—helped to develop the modern piano.  Chinese pianist Lang Lang performed Tchaikovsky's 'Piano Concerto No. 1,' which was composed in the 1800s, during a performance with the New York Philharmonic in Central Park in July 2008. The red Steinway piano was later auctioned off for an earthquake-relief fund.  Chinese pianist Lang Lang performed Tchaikovsky's 'Piano Concerto No. 1,' which was composed in the 1800s, during a performance with the New York Philharmonic in Central Park in July 2008. The red Steinway piano was later auctioned off for an earthquake-relief fund.  Pianos, including Steinways, sat in a room before they were sold at the Bridgewater Hall in Manchester, England, in 2009. Some models were made with prized Makassar ebony, center right.  Pianos, including Steinways, sat in a room before they were sold at the Bridgewater Hall in Manchester, England, in 2009. Some models were made with prized Makassar ebony, center right.  Galo Torres, right, carved a treble bridge at the Steinway factory in Queens. Each Steinway grand piano takes nearly a year to create, according to the company's website. The company had sales of $353.7 million in 2012, with its pianos making up the majority of overall sales.  Galo Torres, right, carved a treble bridge at the Steinway factory in Queens. Each Steinway grand piano takes nearly a year to create, according to the company's website. The company had sales of $353.7 million in 2012, with its pianos making up the majority of overall sales.  Tommy Onolfo trimmed excess felt from a piano part at the factory in Queens. Steinway sold its first piano to a New York family for $500, the company's website says. Today, the pianos can cost as much as $200,000  Tommy Onolfo trimmed excess felt from a piano part at the factory in Queens. Steinway sold its first piano to a New York family for $500, the company's website says. Today, the pianos can cost as much as $200,000  American musician Billy Joel sat near a Steinway piano.  American musician Billy Joel sat near a Steinway piano.  Paul McCartney, of Beatles fame, and Berry Gordy, of Motown fame, stood in front of a newly restored 1877 Steinway piano. Motown greats had once played the piano, which Mr. McCartney helped to restore.  Paul McCartney, of Beatles fame, and Berry Gordy, of Motown fame, stood in front of a newly restored 1877 Steinway piano. Motown greats had once played the piano, which Mr. McCartney helped to restore.
The iconic maker of Steinway & Sons pianos said Monday that private-equity firm Kohlberg will take Steinway Musical Instruments private in a $438 million deal. See photos of the company's piano legacy.