I’ve been sounding the alarm about a housing slowdown for a couple of months now, starting with this overall look at how a housing industry-led recession could be just around the corner. Now, new data on housing, the industry that was a major driver of the last recession, continues to offer a bearish outlook with housing construction starts dropping a significant 5.3% in the month of September.
NY/NJ Tech Summit – 2nd Verse Same as the 1st
The NY/NJ Tech Summit rolled in to the Big Apple last week, almost exactly one year after its first iteration, which took place last year in the MetLife Stadium…a really unique venue. This year, I looked forward to it with great anticipation, interested to see if the Summit would begin to gain traction and what changes would take place as a result of the show being acquired by CEDIA.
There were interesting answers to both of these questions. See more below… [Read more…] about NY/NJ Tech Summit – 2nd Verse Same as the 1st
WAVE Founder Talks to Strata-gee About Acquisition
‘No One Lost Their Job Except Me!’
Gary Wermuth, founder of WAVE Electronics in Houston, TX, spoke with Strata-gee about his company’s recent acquisition by Kingswood Capital, which also owns AVAD and plans to merge the two operations. The deal, announced last week and the cause of substantial buzz around the industry, has actually been in the works since April and he was clearly pleased to have the deal done and behind him.
See more of what the WAVE founder told me in our Q&A… [Read more…] about WAVE Founder Talks to Strata-gee About Acquisition
Does the WAVE/AVAD Deal Signal a New Era in Distribution?
As we reported last week, the world learned that the private equity group that owns AVAD has made another deal, acquiring Houston, TX-based WAVE Electronics, another major custom integration distribution company. After an initial ripple of excitement over the deal, most of us went back to our daily lives – looking at this deal as nothing more than just another private equity acquisition. But there may be more here than meets the eye…
See how distribution is changing… [Read more…] about Does the WAVE/AVAD Deal Signal a New Era in Distribution?
Residential Systems: New Takes on Tech Training
Will you indulge me for a moment? I want to draw your attention to an article I wrote for Residential Systems titled New Takes on Tech Training. Regular Strata-gee readers are most likely aware of the fact that I also write for Residential Systems, and this article is one that I’m quite proud of.
Why am I proud of this particular article? Read on… [Read more…] about Residential Systems: New Takes on Tech Training
Melrose Talks of Disposing of Nortek
Are Elan, Speakercraft, Niles, Proficient, etc. In Play Again?
Melrose PLC, owner of Nortek, including Nortek Security & Control, is openly talking to U.K. media about the likelihood of selling off Nortek – saying, in essence, their work is done, the turnaround is complete. This being the case, their thinking is that it is time to harvest their crop by selling off the company to reap their reward of profits.
But what does this mean for Nortek and its stable of brands?… [Read more…] about Melrose Talks of Disposing of Nortek
Emerald Expositions Reports Attendance Flat at CEDIA Expo 2018
Emerald Expositions Events, Inc. (stock symbol: EEX) reported last week that attendance at CEDIA Expo 2018, the first Expo run totally by Emerald Expositions employees, had an attendance of “more than 20,000 home tech pros” or flat as compared to their announcement of “more than 20,000 home tech professionals” at the event last year.
See more on this announcement from Emerald which has some new data… [Read more…] about Emerald Expositions Reports Attendance Flat at CEDIA Expo 2018
Krell VP of Sales Leaves Company
Krell Comments on Shackelford’s Departure
Gordon Shackelford, Vice President of Sales for Krell over the last few troubled years, has left the company at the end of September. The public face of the company during what might be its most troubled times, Shackelford told me he needed a break after a period of great stress in his career, but he wishes Krell all the best and believes it is in the midst of a significant turnaround.
See more on why Shackelford’s departed from Krell… [Read more…] about Krell VP of Sales Leaves Company
Equity Owner of AVAD Doubles Down, Buys WAVE & Consolidates
Kingswood Capital Management, LLC, a private equity company that describes itself as “an operationally-focused lower-middle market” PE company – and the current owner of AVAD – announced today that it has purchased Houston, TX-based custom integration distributor WAVE Electronics, Inc. and plans to merge it with AVAD to create one total entity. Their announcement says that with this move they “will create the single largest value-added distributor of high-end audio, video, security, and home automation solutions in the consumer electronics industry.”
Many thought they already were the largest distributor.
See more on this surprising news… [Read more…] about Equity Owner of AVAD Doubles Down, Buys WAVE & Consolidates
Gibson Begins Leadership Makeover w/New CFO
Gibson Brands’ Chapter 11 bankruptcy proceedings have continued to incessantly march forward, the gritty work of a large scale matter such as this occurring mostly in the background. However, occasionally a major factor emerges to be picked up by the media. One thing the new owners of Gibson made a fundamental part of this initiative, was to change the organization’s leadership.
This week, we learned that the company will soon emerge from bankruptcy with a new chief financial officer (CFO) – announcing the appointment of Kimberly Mattoon for the role.
