The Halifax Group has acquired AAMP Global from Audax Private Equity, which acquired the company in November 2006 from ICV Capital Partners.
AAMP Global is a designer, manufacturer, and distributor of audio accessories and consumer electronics integration devices to the automotive, agriculture, marine, powersports, recreational, and commercial vehicle aftermarket. The company’s products allow aftermarket audio, safety, and infotainment products to work with original factory systems.
AAMP’s brands include PAC, EchoMaster, Stinger, Phoenix Gold, iSimple, Autoleads and Thinkware. The company’s products are sold through car audio specialist retailers, mass retail chains, and international distributors. AAMP Global was founded in 1987 and is headquartered in Clearwater, FL.
Halifax partnered with CEO Jamie Fraser and AAMP’s management team on this transaction and they will remain with the company after the transaction. “We are excited to partner with Halifax as we look to expand our business in the United States and internationally,” said Mr. Fraser. “Their financial, operational, and strategic support will allow us to continue to provide superior products for our customers and to accelerate execution of our strategic plan for the company.”
“With a large and aging global car fleet, there is significant embedded demand for AAMP’s solutions, and the company has market-leading product development capabilities,” said Doug Hill, a partner at Halifax. “As a result, AAMP is well-positioned to capitalize on the growing need for aftermarket audio, safety, and infotainment products that integrate seamlessly with OEM systems. We look forward to pursuing the next phase of growth for the company in partnership with Jamie and the executive team.”
“AAMP has benefited from decades of investment in research and development, and the company occupies an attractive position in the market as a result. We are excited to partner with the AAMP management team to continue that legacy, and we look forward to growing the business together, both organically and through acquisition, for years to come,” added Jamie Cavanaugh, a vice president at Halifax.
The Halifax Group invests from $25 million to $75 million of equity in companies with EBITDA from $8 million to $30 million and enterprise values from $50 million to $300 million. Sectors of interest include health and wellness, education, outsourced business services, franchising, and infrastructure. The firm is headquartered in Washington, DC, and has additional offices in Dallas, TX and Raleigh, NC.
Audax, the seller of AAMP, invests in middle-market companies that have from $8 million to $50 million in EBITDA and enterprise values of $50 million to $400 million. Sectors of interest include business and consumer services; energy; healthcare; technology, media and telecom; and industrials including chemicals, infrastructure, and building materials. Audax has offices in Boston, New York, and San Francisco.
© 2019 Private Equity Professional | November 5, 2019
