The acquisitions within the industry haven’t slowed down as Kingswood Capital Management, an operationally focused middle market private equity investment firm, has announced that its controlled affiliate has acquired AVAD, LLC.
The deal also included Kingswood’s acquisition of AVAD’s wholly owned subsidiary, AVAD Canada Ltd.
AVAD, a distributor of high-end audio and video solutions focused on the commercial and residential custom installation markets in North America, says in a company press release that its partnership with Kingswood and its operating team provides AVAD with the executive leadership, operational resources and capital necessary to realize the company’s long-term strategic goals.
According to the news release, Kingswood has recruited consumer electronics and distribution industry veterans, Tom Jacoby as chief executive officer and Fred Farrar as president, among other key executives to be announced, to assist the team going forward.
Following this transaction, AVAD believes it is well positioned to “continue providing its comprehensive, premium products and services to its broad base of existing customers while growing its distribution in numerous underserved markets.”
“As the market leader in distribution of premium audio and video solutions, AVAD is poised to grow its product offering and distribution reach under new leadership. Kingswood is fortunate to partner with an industry leader like AVAD and proven industry executives like Mr. Jacoby and Mr. Farrar in this transaction,” says Alex Wolf, managing partner at Kingswood, in the company announcement.
Tom Jacoby, AVAD’s new chief executive officer adds, “Fred Farrar and I have had the pleasure of working with AVAD as one of our customers over our many years in the consumer electronics industry. We hold AVAD in the highest regard and look forward to joining its strong, passionate team and extending AVAD’s market leading position.”
“We have plans to invest in AVAD’s infrastructure and will particularly focus on using web enabled technology to deliver added value to all of our trading partners. We are delighted to be able to contribute our experience and commitment to this great organization.”
Fred Farrar, AVAD’s new president, also comments, “I am excited to work with the AVAD team as we build on the most respected line card in the business and further strengthen AVAD’s renowned customer service, technical support and system design capabilities. I’m also very pleased that AVAD’s leadership team have chosen to partner with us, as we focus on enhancing the customer, vendor and employee experience” says Fred Farrar, AVAD’s new President.
Read more about Kingswood Capital Management’s acquisition of AVAD on CI‘s sister site, CEPro.com.
