Melrose Industries PLC, an engineering turnaround company that recently acquired Nortek, Inc. (parent company of Core Brands) announced last week that it sees margins improving at Nortek already, even though it only acquired the company just last year. Not only that, but thanks to adding Nortek to its stable of investments, Melrose has seen its revenues triple – driving its stock to a record high.
Archives for March 2017
Gibson Brands Successfully Refinances Significant Debt
B. Riley & Co., a full service investment bank, announced the closing of a series of refinancing transactions that have completely restructured the outstanding significant debt of Gibson Brands, Inc. Gibson, as we have reported on regularly, entered the consumer electronics space back in 2012, investing in brands such as Onkyo/Integra, Teac, and buying Philips accessory business. Recently, the company appeared to be running into debt difficulties, perhaps from taking on debt to purchase these companies.
See more on this debt restructuring by Gibson… [Read more…] about Gibson Brands Successfully Refinances Significant Debt
Samsung Makes a Strategic Investment into an IoT Security Company
Samsung Electronics has made another major investment in the Internet of Things (IoT) space, becoming an early stage Series A investor in Bayshore Networks. The company made the investment via its Samsung NEXT Venture fund, an investment fund created by the company to find and take positions in companies that are driving businesses that will yield future profits for the company.
Who is Bayshore Networks and why did Samsung invest in them?… [Read more…] about Samsung Makes a Strategic Investment into an IoT Security Company
Atlantic Technology Names Mike Miller as National Sales Manager
Atlantic Technology, the specialty loudspeaker manufacturer home theater and architectural audio speakers based in Norwood, MA, announced this week that it has appointed Mike Miller its National Sales Manager. Miller, an experienced industry veteran, joins a company noted for its targeted, strategic products and leads the charge in driving national adoption of its solutions.
See more on this announcement from Atlantic Technology… [Read more…] about Atlantic Technology Names Mike Miller as National Sales Manager
D+M Group Sold From One PE Company to Another
We learned Wednesday that private equity powerhouse Bain Capital has apparently found a buyer for D+M Group, selling it off to another private equity company – Boston-based Charlesbank Capital Partners. CCP is the owner of DEI Holdings, a division of which is Sound United LLC, parent company of Polk Audio, Definitive Technology, and Polk BOOM. It is Sound United that will now also take over D+M Group and its brands Denon, Marantz, HEOS by Denon and Boston Acoustics.
See more on what we know about this deal for D+M… [Read more…] about D+M Group Sold From One PE Company to Another
Control4 & Triad CEOs Explain to Strata-gee Why Their Deal Makes Sense
Control4 Corp. announced Tuesday that it has decided to get into the speaker business – doing so by acquiring Triad Speakers, Inc. – whom it describes as “a leader in advanced audio technology with best-in-class, customizable speaker-solutions.” The lofty language in the announcement in praise of Triad caught us by surprise and, unlike some of their other acquisitions, we did not find this one immediately obvious.
So when given the opportunity to interview both CEOs about this unexpected development, we jumped at the chance to learn more about the “hows” and the “whys” of this unusual partnership.