Graycliff Partners has acquired Williams Sound, a provider of assistive listening systems, from Cardinal Equity Partners which had owned the company since January 2011.
Williams Sound is a designer, manufacturer, and marketer of wireless communication systems that are used to deliver sound and improve the hearing and communication ability of individuals in a variety of group or gathering situations. For example, the company’s products are designed for those with hearing impairment in public assembly spaces as well as for all listeners in language interpretation and tours. The company was founded in 1976 by Jerry Williams and is based near Minneapolis in Eden Prairie (www.williamssound.com).
“The Williams Sound team has built a multi-faceted business with significant potential for continued growth. The company’s product breadth and dedicated workforce makes it poised to take advantage of attractive industry tailwinds,” said Andrew Trigg, a Managing Director at Graycliff Partners.
Graycliff Partners invests from $5 million to $25 million of equity and mezzanine capital in companies with revenues of at least $10 million and EBITDA margins of 10% or higher. Sectors of interest include manufacturing, services and distribution. Both control and minority investments are considered. The firm was formed in December 2011 by the former investment team of HSBC Capital. Graycliff Partners is headquartered in New York with an additional office in São Paulo (www.graycliffpartners.com).
“Williams Sound is pleased and excited to work with Graycliff Partners and we are looking forward to achieving our aggressive future growth goals together,” said Paul Ingebrigtsen, President and CEO, Williams Sound.
Minneapolis-based investment bank Prestwick Partners was the financial advisor to Williams Sound and Cardinal Equity Partners.
Cardinal Equity Partners invests from $2 million to $7 million of equity in companies that have from $5 million to $50 million of revenues and $1 million to $5 million of EBITDA. Sectors of interest include niche manufacturing, value-added distribution, consumer products, and service companies. The firm was founded in 1993 and is headquartered in Indianapolis (www.cardvent.com).
© 2016 Private Equity Professional • Private Equity’s Leading News Magazine • 3-17-16
