Biamp Systems, a portfolio company of Highlander Partners LP, has acquired Waltham, Massachusetts-based Cambridge Sound Management, a provider of sound masking technology. The seller was Gladstone Investment Corp. No financial terms were disclosed. Capstone Headwaters provided financial advice to Cambridge Sound Management on the transaction.
BEAVERTON, Ore., Dec. 20, 2018 /PRNewswire/ — Biamp Systems, a leader in professional audio/video solutions and a portfolio company of Highlander Partners, L.P., today announced that it has acquired Cambridge Sound Management (“Cambridge”) from Gladstone Investment Corp. Headquartered in Waltham, MA, Cambridge is the world’s largest provider of sound masking technology. Sound masking helps protect speech privacy, reduce noise distractions, and increase acoustical comfort in offices and other corporate settings. A pioneer and the undisputed leading brand in sound masking, Cambridge has provided solutions to over 25,000 customers in 30 countries, including over half of Fortune 100 companies.
Operations will continue to be conducted from Cambridge’s existing facilities in Massachusetts and Georgia, and its employees will join the Biamp team. Meghann Ellis, newly appointed General Manager of Cambridge, commented, “We believe that Biamp is a perfect fit for our business and look forward to contributing to its continued success. Biamp’s broad reach into the commercial AV world will enhance Cambridge’s leading position and present us with access to significant new channels for growth.”
Ben Slater, Director of Highlander Partners, commented, “Cambridge fits squarely into some of the most pronounced trends in commercial infrastructure today: open and modern architecture, improving workplace conditions and productivity, and a heightened focus on privacy. Its position in the high-growth sound masking category is unparalleled and we are thrilled to welcome Cambridge into the Biamp family. This acquisition confirms our strategy of executing complementary add-on acquisitions that expand Biamp’s existing product offerings while continuing to invest in organic growth. We plan to leverage the strength of our brands and distribution capabilities to ensure both Cambridge and Biamp products reach an even broader audience throughout the vast professional audiovisual landscape. We continue to evaluate M&A opportunities and expect to make additional acquisitions going forward.”
In September 2016 Highlander added industry veteran Rashid Skaf, the former CEO of AMX, as a Senior Advisor to identify technology company opportunities; in November 2017 Highlander acquired Biamp and Mr. Skaf became President, CEO, and co-Chairman of Biamp. Mr. Skaf added,
“The acquisition of Cambridge Sound Management unites two great brands in the professional audiovisual market. Together, we offer customers better access to industry leading solutions that manage sound and video to address a wide array of modern communications and collaboration challenges. It has been just one year since our acquisition of Biamp with the stated intent of using it as a platform to build a respected provider of comprehensive audiovisual solutions. This transaction is evidence of that strategy being implemented.”
Capstone Headwaters acted as financial advisor to Cambridge Sound Management in the transaction. Regions Bank and Fifth Third Bank, as joint lead arrangers, provided senior financing facilities and Norwest Mezzanine Partners provided mezzanine debt and equity in support of the transaction.
About Biamp Systems
Biamp Systems is a leading provider of innovative, networked media systems that power the world’s most sophisticated audio/video installations. The company is recognized worldwide for delivering high-quality products and backing each one with a commitment to exceptional customer service.
Biamp is dedicated to creating products that drive the evolution of communication through sight and sound. The award-winning Biamp product suite includes: Tesira® media system for digital audio and video networking, Devio® collaboration tool for modern workplaces, Audia® digital audio platform, Nexia® digital signal processors, and Vocia® networked public address and voice evacuation system. Each has its own specific feature set that can be customized and integrated in a wide range of applications, including corporate boardrooms, conference centers, huddle rooms, performing arts venues, courtrooms, hospitals, transportation hubs, campuses, and multi-building facilities.
For more information on Biamp, please visit www.biamp.com. For more information on Cambridge Sound Management, visit www.cambridgesound.com.
About Highlander Partners, L.P.
Highlander is a Dallas-based private investment firm with approximately $2 billion of assets under management. The firm focuses on making investments in businesses in targeted industries in which the principals of the firm have significant operating and investing experience, including technology, basic manufacturing, food, chemicals, building materials, consumer products, and others. Highlander Partners implements a “buy and build” investment approach, creating value by helping companies grow both organically and through acquisitions. For more information, visit www.highlander-partners.com.
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