CID Capital has acquired Westone Laboratories, a maker of hearing healthcare products and consumer audio products. Terms of the deal were not released. CID Capital is a lower-middle market private equity firm.
CID Capital is proud to announce that it has acquired Westone Laboratories, a leading designer, manufacturer, and distributor of hearing healthcare products as well as professional and consumer audio products.
For over 50 years, Westone has been a leader in the hearing healthcare industry. Westone was also one of the early pioneers in the professional musician earphone business, working with elite musicians since the early 1990s to develop some of the first in-ear monitoring systems. Westone has leveraged this experience to build a leading brand in the premium consumer earphone category.
CID worked closely with Westone’s founding family to achieve their transition and liquidity goals, while allowing the company’s management team to continue building the business.
Lynn Kehler, CEO of Westone, commented, “We’re delighted to have CID Capital as a partner. Our collaboration with CID will bring the strategic guidance and resources we need to rapidly accelerate new product development, aggressively expand distribution, and pursue potential add-on acquisitions. We have a unique opportunity to leverage CID’s background and network in consumer products to continue the company’s rapid growth.”
Eric Bruun, Managing Director at CID Capital, added, “Westone exemplifies the characteristics CID looks for in our platform acquisitions. The company has a leading brand in hearing healthcare, a strong platform for continued growth in professional and consumer audio, and an experienced management team eager to continue growing the business. We couldn’t be more excited to partner with the Westone team.”
Westone is actively searching for add-on opportunities in the hearing healthcare, hearing protection, and professional and consumer audio categories.
Founded in 1959, Westone is a leading designer, manufacturer and distributor of custom in-ear communication and hearing protection products. The Company is a major supplier of custom earpieces for hearing aids, custom hearing protection products, in-ear musicians’ monitors, premium earphones for personal listening, and specialty communication products for military and law enforcement agencies.
About CID Capital
CID Capital is a leading lower-middle market private equity firm that focuses exclusively on acquiring controlling interests in consumer and industrial product companies. CID provides flexible capital structures to companies in expanding market niches and leverages the operating experience of CID’s investment professionals and advisors as a resource to the strong management teams the firm supports.