Highlander Partners Portfolio Company Biamp Announces Acquisition of Community Loudspeakers and Apart Audio
BEAVERTON, Ore., July 10, 2019 /PRNewswire/ — Biamp Systems, a leading supplier of professional audio and video solutions based in Beaverton, Oregon, today announced the acquisition of Audioprof Group International from 3d Investors of Gent, Belgium. Audioprof is the parent company of Community Loudspeakers based in Philadelphia, Pennsylvania and Apart Audio based in Antwerp, Belgium. Biamp is a portfolio company of Highlander Partners L.P., a leading middle market private investment firm based in Dallas, Texas.
Founded in 1968 by speaker design pioneer Bruce Howze, Community Loudspeakers has a long history of speaker design innovation. Today, Community is a well-established and respected manufacturer of a broad range of premium speakers targeting demanding indoor and outdoor applications including commercial, leisure, stadiums, and other large venues. Apart Audio is a strong competitor in audio solutions for small and mid-size venues, offering a broad array of speakers as well as amplifiers, mixers, controllers, and paging stations to make Apart a single vendor solution for its markets. Apart has a well-established business in Europe and only entered North America in 2018, a market in which Biamp’s extensive distribution system can provide an immediate boost.
Rashid Skaf, Biamp President, CEO, and co-Chairman commented, «I am tremendously excited to complete this transaction. Building a comprehensive lineup of speakers has been a priority as we move to position Biamp as a full line provider of professional audiovisual solutions. Acquiring Apart Audio and Community Loudspeakers was our preferred route to accomplishing this goal quickly with incredibly strong and respected brands. The many products added to our portfolio give us powerful positions in several key growth markets for Biamp. With this move, Biamp has clearly established itself as a leader in the pro AV market.»
The addition of Audioprof Group International comes just seven months after the company acquired Cambridge Sound Management, which made Biamp the world leader in sound masking systems. Biamp now offers a wide range of audiovisual solutions that facilitate communication and collaboration in conference rooms, lecture halls, auditoria, hospitality, retail and outdoor venues, as well as paging and notification for open areas like offices, concourses, stadiums, retail centers, and casinos.
Highlander’s Ben Slater, Co-Chairman of Biamp, added, «When we acquired Biamp in November 2017, we set out on an ambitious path. Using Biamp as a cornerstone, we aspired to become a complete-solution, global leader in the AV space. Along with organic expansion, which has been significant under Rashid’s leadership, we are targeting strategic acquisitions to help us achieve this goal. With its complementary suite of respected products and a strong international presence, Audioprof fits perfectly into this strategy. In adding both Community and Apart, Biamp takes a significant step towards a full AV offering to end users across venues and geographies. We proudly welcome the entire Audioprof team into the Biamp family.»
Lincoln International acted as financial advisor to Audioprof in the transaction. Regions Bank led a group in providing senior financing facilities in support of the transaction.
About Biamp Systems
Biamp Systems is a leading provider of innovative, networked media systems that power the world’s most sophisticated audio/video installations. The company is recognized worldwide for delivering high-quality products and backing each one with a commitment to exceptional customer service. Its broad, award-winning Biamp product suite can be customized and integrated in a wide range of applications, including corporate boardrooms, conference centers, huddle rooms, performing arts venues, courtrooms, hospitals, transportation hubs, campuses, and multi-building facilities. For more information on Biamp, please visit www.biamp.com. For more information on Apart Audio and Community Loudspeakers, please visit www.apart-audio.com and www.communitypro.com, respectively.
About Highlander Partners
Highlander Partners, L.P. is a Dallas-based private investment firm with approximately $2 billion of assets under management. The firm focuses on making investments in businesses in targeted industries in which the principals of the firm have significant operating and investing experience. Highlander Partners uses a «buy and build» investment approach, creating value by helping companies grow organically and through acquisitions. For more information, visit www.highlander-partners.com.
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SOURCE Highlander Partners, L.P.