Bunker Hill Capital, the Boston-based private equity firm, has partnered with SunBriteTV’s founders and management in a recap deal. SunBriteTV makes LCD televisions that withstand outdoor elements for advertising and other purposes. SunBriteTV co-founders Larry Kaiser and Tom Weaver will remain stakeholders and will continue to oversee the company’s operations.
Boston, MA – (January 4, 2011) – Bunker Hill Capital L.P. announced today that it has partnered with SunBriteTV’s founders and senior management team to recapitalize the company. SunBriteTV, located in Moorpark, California, is the world’s leading designer, manufacturer and supplier of all-weather outdoor televisions and related accessories for both residential and commercial applications. SunBriteTV offers a wide selection of high definition LCD televisions ranging in size from 22” to 55” featuring proprietary software and design elements that allow the televisions to withstand heavy rain, dust and insects, and to operate in extreme temperatures ranging from -24 to 122 degrees Fahrenheit. The units also have anti-reflective and scratch resistant glass that enables enhanced viewing in bright sun conditions and provides additional protection against the outdoor elements.
Co-founders Larry Kaiser and Tom Weaver remain significant owners of SunBriteTV and will continue to oversee day to day operations as Chief Executive Officer and President, respectively. “We are very excited to partner with Bunker Hill Capital as we continue to rapidly expand our business both domestically and internationally. Bunker Hill Capital’s principals have previously guided a very successful investment in the audio/visual products industry; we will use their value-added expertise to help accelerate the execution of our strategic plan,” noted Larry Kaiser. Tom Weaver added, “We appreciate Bunker Hill Capital’s understanding and support of our new product development efforts and commitment to meeting the needs of our residential and commercial dealers and distributors.”
According to Brian Kinsman, a Managing Partner of Bunker Hill Capital, “We are excited to have the opportunity to partner with Larry, Tom and the SunBriteTV management team. As the pioneers in this nascent and rapidly growing market, the company has built an impressive line of products that are both differentiated and competitively priced. SunBriteTV’s dedication to product innovation and customer service has positioned the company for great success in the future.”
Kinsman’s enthusiasm was echoed by Tim Sheehy, a Principal of Bunker Hill Capital, “SunBriteTV is an ideal investment for our firm. The company has a proven and experienced management team and has demonstrated strong financial performance. We believe there are significant opportunities to grow the company through continued product development, channel expansion and international distribution. We look forward to working with Larry and Tom to achieve these objectives.”
SunBriteTV is the world’s leading designer, manufacturer and supplier of all-weather outdoor televisions and related accessories. SunBriteTV offers a wide selection of high definition LCD televisions ranging in size from 22” to 55” that are sold to both residential and commercial customers for outdoor use. All of the company’s televisions are designed and engineered specifically for all-weather use and are not repurposed indoor televisions. For more information on SunBriteTV, please visit www.sunbritetv.com
About Bunker Hill Capital, L.P.
Bunker Hill Capital is a private equity firm that makes investments in lower middle market companies with enterprise values up to $150 million. The principals of Bunker Hill Capital have invested over $400 million in 30 transactions and target opportunities across four industry sectors including industrial products, business services, consumer products and specialty retail. Bunker Hill Capital’s portfolio company investments include California Family Fitness, the leading owner and operator of fitness centers in the greater Sacramento, CA area; Papa Gino’s/D’Angelo, a dominant quick service restaurant operator in New England; Smith & Wollensky, a premier steakhouse concept in the United States; and Nspro, a leading IT consulting firm in Montreal, Canada. For more information on Bunker Hill Capital, please visit www.bunkerhillcapital.com