Canadian private equity firm Serruya Private Equity has acquired Tivoli Audio LLC, an audio products manufacturing company with offices in Boston, Massachusetts and Utrecht, the Netherlands. The financial terms of the deal were not disclosed. Levy Capital Partners advised Tivoli on the transaction. Update: Serruya Private Equity, a Markham, Ontario-based firm that oversees the consumer brand investments of the Serruya family, said it will focus on enhancing Tivoli’s market share by supporting the development of new products in additional locations around the world.
Tivoli Audio Announces Investment by Serruya Private Equity to Increase Iconic Brand’s Global Footprint
BOSTON and UTRECHT, Netherlands, May 13, 2015 /PRNewswire/ — Tivoli Audio LLC (www.tivoliaudio.com), the iconic high-performance audio company with headquarters in Boston, MA and Utrecht, Netherlands, announced today that Toronto-based Serruya Private Equity (“SPE”) has acquired Tivoli Audio to serve as its flagship consumer electronics brand.
SPE is a leading investment firm with a longstanding and successful history of enhancing brands. SPE’s portfolio of consumer brands has over $1.5 billion in system-wide revenues. Michael Serruya, CEO of SPE and Chairman of Tivoli Audio said, “We are thrilled to add Tivoli Audio to our family of premium consumer brands. Tivoli not only exemplifies the relevance of thoughtful design, but is as great sounding as it looks. We see the potential to build upon Tivoli Audio’s position as an iconic global brand in the US, Europe and Asia and on the company’s reputation for bringing to market outstanding design and top-tier audio performance. SPE will focus on enhancing Tivoli’s market share by supporting the development of great new products to be sold in more locations around the globe.”
In addition to being sold in 50 countries worldwide, Tivoli Audio products are featured in blockbuster award-winning movies and television shows, and can be seen and heard in leading prestige hotels. Tivoli Audio will be exhibiting at the Munich High End Show from May 14th to May 17th.
Levy Capital Partners served as the advisor to Tivoli Audio in connection with the transaction.
About Tivoli Audio
Tivoli Audio was founded in 2000 to bring beautifully designed, simple-to-use, high-quality audio products to the consumer market. Tivoli Audio’s highly-acclaimed audio products include the Model One AM/FM Table Radio, the PAL/iPAL, a portable audio solution, the Model 10, a compact digital clock radio and a suite of Bluetooth-enabled products including the PAL BT, Model One BT, and Albergo. The recently introduced Music System Three is receiving accolades from renowned music publications and reviewers worldwide. Tivoli Audio manufactures and markets award-winning signature audio products that have not only broken the sound barrier in terms of high fidelity performance, but are produced in a unique range of colors and furniture grade woods to look as good as they sound. Today, Tivoli Audio products are sold in over 50 countries worldwide. For more information, please visit www.tivoliaudio.com.
About Serruya Private Equity
Serruya Private Equity and its affiliates (“SPE”) invest in companies with leading consumer brands and strong management teams. SPE owns and operates several leading companies across different industry sectors and has successfully built brands for over 25 years.(www.serruyaprivateequity.com).
About Levy Capital Partners
Levy Capital Partners is a merchant banking firm that combines top-tier investment banking capabilities with an intense focus on enhancing value and achieving client objectives. Levy focuses primarily on small-cap, mid-cap and private companies with significant potential for value-creation, working closely with senior management teams, owners and boards. The firm has deep experience across sectors, situations and transaction types, from tactical and transformational M&A, to growth capital, to distressed situations requiring complex solutions. Additional information can be found at www.levycp.com. Securities related services offered through M&A Securities Group, Inc., member FINRA, SIPC. Levy Capital Partners and M&A Securities Group are not affiliated entities.
SOURCE Tivoli Audio
For further information: Tivoli Audio Media Contact: Cathy Callegari – 212-579-1370 or firstname.lastname@example.org; Serruya Contact: Jordan Schwartz – email@example.com
Photo courtesy of Tivoli Audio LLC