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…
Management
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
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.
See more on this Gibson news… [Read more…] about Gibson Begins Leadership Makeover w/New CFO
Onkyo Targets OEM Business to Beef Up Results
Onkyo Corporation, parent of the Onkyo, Integra, and Pioneer AV brands, is expanding its OEM business unit to help build its business and offset losses it has experienced over the last five years, according to a report by the Nikkei in Japan. Investors are said to be skeptical of the move, but the company is targeting the automotive segment in India where they expect to see significant growth.
See more on this interesting move by Onkyo… [Read more…] about Onkyo Targets OEM Business to Beef Up Results
CEDIA Expo18: Vanco in Major Audio Expansion
Vanco has always seemed to be that reliable supplier in the background providing a steady stream of solutions like cables, connectors, and other accessories – not particularly glitzy or exciting, but steady and there. Well all that is about to change I learned when I spoke with Mark Corbin, Vanco’s recently appointed President at CEDIA Expo18 earlier this month. The company has begun a big initiative to become a major player in a category near and dear to my heart…audio.
See how Vanco is attacking the audio business with gusto… [Read more…] about CEDIA Expo18: Vanco in Major Audio Expansion
Krell’s Comeback Commences, See How Here
At CEDIA Expo 2018, I had the opportunity to meet with Krell Industries executives Walter Schofield and Gordon Shackelford to learn more about the steps the company is taking to address market concerns in the wake of a lot of nasty rumors about Krell’s viability. Step one of the new direction for Krell involved the hiring of Walter Scofield as its new Chief Operating Officer as Strata-gee recently reported just a few weeks ago. In this meeting, I was to learn of more steps coming.
See what Krell execs told me about the company’s comeback… [Read more…] about Krell’s Comeback Commences, See How Here
Origin Acoustics: New Products, New CEO
As usual, our first official CEDIA Expo press conference was Origin Acoustics. And as usual, Origin begins the show by putting on the Dave Donald show. Donald, who is Origin’s “Worldwide Ambassador,” is a showman at heart with a dynamic speaking style and sprinkles of exciting hyperbole. I have to say, while Donald seemed slightly lower key that at past shows, you certainly won’t drift off to sleep when he’s verbally throwing new models at you.
But what followed next is what really caught our attention… [Read more…] about Origin Acoustics: New Products, New CEO
Welcome to the First For-Profit & Last San Diego CEDIA Expo
Welcome to San Diego for the first for-profit CEDIA Expo, the first Expo to take place under the full control of professional show producer Emerald Expositions. It is also the last CEDIA to be held in San Diego, at least for the forseeable future. Next Year, the show moves back to Denver, one of the locations that is considered most popular with CEDIA members.
