Biamp Systems acquires Cambridge Sound Management
Biamp Systems, a portfolio company of Highlander Partners, L.P. acquires Massachusetts-based Cambridge Sound Management (‘Cambridge’) from Gladstone Investment Corp. Cambridge, world's largest provider of sound masking technology is a pioneer leading brand in sound masking having served over 25,000 customers in 30 countries, including Fortune 100 companies. The sound masking offered by the company shields speech privacy, depreciates noise distractions and enhances acoustical comfort in corporate environments.
Speaking on the occasion, Meghann Ellis, recently designated General Manager of Cambridge, says, “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.”
Commenting on the acquisition, Ben Slater, Director of Highlander Partners, states, “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.”
While Capstone Headwaters served as financial advisor to Cambridge Sound Management in the transaction, Regions Bank & Fifth Third Bank, acted as joint lead arrangers, provided senior financing facilities. Furthermore, Norwest Mezzanine Partners gave mezzanine debt and equity in aid of the transaction. “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,” Ben adds.
The process commenced in September 2016 when Highlander added industry sourdough Rashid Skaf, the former CEO of AMX, as a Senior Advisor to identify technology company opportunities. In November 2017 Highlander acquired Biamp and Skaf became President, CEO, & Co-Chairman of Biamp. “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,” says Skaf.
A preeminent provider of innovative, & networked media systems offering world's most sophisticated audio/video installations, Biamp Systems is acknowledged globally for delivering high-quality products.
A Dallas-based firm with nearly $2 billion of assets under management, Highlander Partners is a private investment firm making direct private equity and mezzanine investments throughout North America & Central Europe.
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