Hellman & Friedman has agreed to acquire SnapAV, a supplier in the rapidly growing connected home sector, from General Atlantic which invested in the company in June 2013.
SnapAV manufactures and sells audio/video, security, networking, and automation products to residential and commercial AV, security and technology integrators. The company has approximately 2,700 SKUs that are sold through dealers to integrators that install SnapAV’s products as part of a custom home designs in the “do-it-for-me” consumer market.
Examples of SnapAV’s products include amplifiers & receivers, wire & connectors, cables, controls, projectors & screens, speakers, surveillance, and televisions. The company was founded in 2005 and is led by CEO John Heyman. SnapAV is headquartered and has a warehouse in Charlotte with additional warehouse facilities in Fresno and Dallas (www.snapav.com).
“SnapAV’s innovative e-commerce platform, compelling products and excellent service deliver tremendous value to the integrator community,” said Erik Ragatz, Managing Director of Hellman & Friedman. “With its network of loyal dealers and an outstanding base of employees, SnapAV is very well positioned to continue on its growth trajectory. We look forward to partnering with John and the rest of the management team as the company moves into its next phase of growth.”
Hellman & Friedman invests from $300 million to $1 billion in companies across a range of industries including business & information services, software, retail & consumer, internet & media, financial services, healthcare, and industrials and energy. Founded in 1984, the firm has raised and managed over $35 billion of committed capital. Hellman & Friedman is based in San Francisco with additional offices in London and New York (www.hf.com).
“We have been pleased to support SnapAV through a period of substantial growth and appreciate our strong partnership with the management team. As SnapAV enters its next phase of development, we are confident the company is in great hands with Hellman & Friedman and we look forward to watching its future success,” said Mark Dzialga, Managing Director at General Atlantic.
General Atlantic provide capital and strategic support to growth companies. The firm was founded in 1980 and manages approximately $18 billion in capital. General Atlantic has more than 100 investment professionals based in New York, Amsterdam, Beijing, Greenwich, Hong Kong, London, Mexico City, Mumbai, Munich, Palo Alto, São Paulo, and Singapore (www.generalatlantic.com).
UBS Investment Bank and SunTrust Robinson Humphrey were the financial advisors to Hellman & Friedman on the transaction and Evercore advised SnapAV and General Atlantic.
The transaction is expected to close in the third quarter of 2017.
© 2017 Private Equity Professional | June 21, 2017
