In 1990 UMI was sold to Bernhard Muskantor, one of the Skåne Gripen partners. Muskantor, with family roots in the musical instrument business, desired a return of the Conn name to respectability but its arrangement with Keilwerth had recently fallen apart and the increasingly tough market with new low-cost Asian competitors kept Conn's position marginal. In 2000 UMI was purchased by Steinway Musical Instruments, and in January 2003 Steinway merged the UMI assets with their subsidiary The Selmer Company to create the Conn-Selmer division.