Strata-gee.com

Strategy in TECH...

AudioControl Single Zone Amps
You are here: Home / Archives for Financial

Financial

The Curious Case of the Disappearance of Classé

by 2 Comments

BREAKING NEWS Acquired by Sound United Two Years Ago, Then Gone


Classe logo

It was January 2018 when I reported that Sound United had completed its acquisition of Classé, an acquisition which had been first announced in December of 2017. In the weeks leading up to that December, former owner Bowers & Wilkins was considering getting out of the electronics business…maybe. After months of confusion, where on any day executives at Classé teetered back-and-forth between survival and demise – it now seemed that Sound United had thrown them a lifeline…a chance to live to fight another day.

And then they dropped out of sight for the last two years…

What happened to Classé?…

[Read more…] about The Curious Case of the Disappearance of Classé

LG Smokes Q3 Forecast for Record Financial Results

by Leave a Comment

LG OLED lighting

LG Electronics Inc. is on a roll, as evidenced by their fiscal third quarter results. The company says it has set an all-time record for third quarter revenues while at the same time booking their best quarterly profit in a decade.

See more details on LG’s Q3 results…

[Read more…] about LG Smokes Q3 Forecast for Record Financial Results

Sharp & Foxconn Stiff Korean Factory Equipment Suppliers on Money Owed

by Leave a Comment

Image of Sharp logo

Korean media is reporting that Sharp, the former Japanese powerhouse brand now owned by Taiwan’s Foxconn, is late on approximately tens or even hundreds of millions of dollars worth of payments to Korean factory gear makers. Not only are they late, but they are said to be demanding even more discounts on the outstanding debt owed to multiple South Korean suppliers of factory equipment destined for use in LCD production factories. All of this is being done in violation of covenants in their purchase contracts with these suppliers.

This dispute may raise to level of government intervention.

What is Sharp & Foxconn doing? And why?…

[Read more…] about Sharp & Foxconn Stiff Korean Factory Equipment Suppliers on Money Owed

Nortek Figures Prominently, If Not Always Positively, in Melrose Industries’ 1st Half Fiscal Results

by Leave a Comment

Melrose logo

Melrose Industries PLC, a U.K. based investment group that purchased Nortek, Inc. back in 2016, released their fiscal 2019 first half financial results last month (for the period ending June 30, 2019). And while the results showed strong sales growth (thanks to a large acquisition) the company still booked a net loss.

Perhaps more interesting, was that Nortek’s Security & Smart Technology unit figured quite prominently in the document – often for the wrong reasons.

See why Nortek was so prominent…

[Read more…] about Nortek Figures Prominently, If Not Always Positively, in Melrose Industries’ 1st Half Fiscal Results

With Loss of Two Potential Buyers, Onkyo’s Future is a Question Mark

by Leave a Comment

onkyologo

As you most likely know by now, Onkyo Corp. and Sound United have called off their transaction which would have transferred ownership of the 73-year old Onkyo brand, as well as the Integra, Pioneer, and Pioneer Elite brands to Sound United. The shocking news capped off a nearly five month process where many in the industry tried to figure out just how this deal made sense.

This was the second loss of a potential buyer for Onkyo, which admits it is re-evaluating its future based on the failure to sell off its brands.

See why Onkyo’s future is a question mark…

[Read more…] about With Loss of Two Potential Buyers, Onkyo’s Future is a Question Mark

Sound United Calls Off Onkyo Acquisition

by 5 Comments

BREAKING NEWS

Sound United logo

In a tersely worded release, Sound United announced today that its deal to acquire the Onkyo, Integra, Pioneer, and Pioneer Elite brands is off. Originally announced in May, the deal was said to be conditional on the completion of due diligence, the signing of “definitive agreements” and other specific elements. Apparently, that process was not successful.

See more on this surprising, but rumored, outcome…

[Read more…] about Sound United Calls Off Onkyo Acquisition

Rocky Mountain Rep Firm Momentum Group Acquires Resi Biz of Texas-Based Dobbs Stanford

by 5 Comments

BREAKING NEWS
Logo of Momentum Group

Consolidation continues in the custom integration world – in this case, Denver-based manufacturer representative firm Momentum Group has acquired the residential division of Texas’ own renowned Dobbs Stanford rep firm based in Dallas. Consolidation has NOT been a big story on the sales representative side…up until now.

See more on Momentum Group’s acquisition Dobbs Stanford…

[Read more…] about Rocky Mountain Rep Firm Momentum Group Acquires Resi Biz of Texas-Based Dobbs Stanford

Sonance to Acquire James Loudspeaker

by Leave a Comment

Sonance logo

Sonance announced today that they have entered into an agreement to acquire Minden, NV-based James Loudspeaker. This is the first major acquisition by Sonance since the purchase of Sound Advance in 2005, and is truly a marriage of two companies with a strong resonance in their approach to the custom integration industry.

See more on the Sonance purchase of James…

[Read more…] about Sonance to Acquire James Loudspeaker

Bravas Group Sold to Private Equity Firm in $75 Million Deal

by Leave a Comment

Group Says Deal is Just the Beginning

Bravas Group logo

Bravas Group, a cooperative of integrators aggregated by Paul Starkey and Steve Firszt of VITAL MGMT, was first put together as part of VITAL MGMT’s consulting practice helping member companies better organize their operations, improve their financial performance, and drive greater profitability. Ultimately, the group’s fifteen members coalesced into one widely-spread unified organization, with over-arching centralized management and plans for the group to be packaged and sold.

Now, in a deal said to be valued at $75 million, Bravas Group has been sold to Presidio Investors, a private equity investment company with offices in San Francisco, CA and Austin, TX.

See more on the Bravas – Presidio deal…

[Read more…] about Bravas Group Sold to Private Equity Firm in $75 Million Deal

Did Control4 Just Try to End-Run Multiple Shareholder Lawsuits?

by Leave a Comment

Photo of Martin Plaehn, CEO of Control4

As Strata-gee recently reported, there are currently seven active lawsuits that have been filed against Control4 and their Board of Directors in the wake of their acquisition by SnapAV. In a new DEFA14A filing with the Securities and Exchange Commission last Friday, the company addresses the issue of these lawsuits – saying that they are going to fight them. But then they do something very curious – they file an amendment to their original Schedule 14A filing, their Proxy Statement, with added information that appears to add missing material in response to allegations in the lawsuits filed against them.

Is Control4 trying to end-run the litigation just days before shareholders vote? See more below…

[Read more…] about Did Control4 Just Try to End-Run Multiple Shareholder Lawsuits?