Dos Rios Partners has made an investment in companies Ikan International and MicroSearch (together “Ikan”). Ikan is a designer, manufacturer and distributor of video and film production equipment and camera accessories primarily sold under the Ikan brand name.
The company’s products include video monitors, lighting equipment, camera support and stabilization systems, teleprompters, and accessories for both studio and field production. The company has a 36,000 square-foot facility in Houston and was founded by its CEO Kan Yeung in 2005 (www.ikancorp.com). Through MicroSearch, Ikan runs a 4,000 square-foot specialty retail showroom in Houston that sells and rents photo, video, lighting, audio and display equipment, and other related products (www.microsearch.com).
“This partnership with Dos Rios brings new resources that secure Ikan’s ability to continue our rapid growth and better serve our customers and dealers,” said Mr. Yeung. “I look forward to Dos Rios’ support as we pursue additional growth opportunities including new products, expanded distribution, internal improvements, and strategic acquisitions to propel the company to the next level.”
Dos Rios Partners makes both control and non-control investments of $5 million to $15 million in companies that have from $2 million to $10 million in EBITDA. The firm is effectively industry agnostic. Target companies will typically be located in Texas, Arkansas, Colorado, Louisiana, New Mexico and Oklahoma. Dos Rios Partners has offices in Austin, Dallas and Houston (www.dosriospartners.com).
“Ikan is a remarkably nimble company that has responded swiftly to the changes in the evolving video production market with a growing portfolio of products that meet every need and budget,” said Kevin Benoit, a co-founding Partner of Dos Rios. “We look forward to working with Kan Yeung, James Tian (COO) and the rest of the Ikan team to build on the company’s existing legacy.”
Cadence Bank, based in Birmingham, AL, provided debt financing to support the transaction (www. cadencebank.com). Montgomery Coscia Greilich (www.mcggroup.com) provided accounting and due diligence services to Dos Rios. Investment bank Glaucon Capital Partners (www.glaucon.com) served as Ikan’s financial advisor.
© 2016 PEPD • Private Equity’s Leading News Magazine • 1-27-16