Kingswood Capital Completes Acquisition of WAVE Electronics
The new combined company will serve multiple markets with their A/V products, including retail and hospitality.
Los Angeles-based Kingswood Capital Management, a private equity firm, announces the acquisition of Houston-based WAVE Electronics Inc. Kingswood says it will merge WAVE with its portfolio company, AVAD LLC, creating what Kingswood says will be the largest value-added distributor of high-end audio, video, security, and home automation solutions in the consumer electronics industry. Specifically, the new company will focus on the custom commercial installation market, along with residential, in North America. While WAVE was focused primarily on the residential security market, AVAD has built a strong presence in the pro audio-visual channel, including digital displays and sound systems used in commercial applications such as retail and hospitality.
Mark Fukuda, former chief operating officer for WAVE, will take over as CEO of the combined new company.
