Washington,
DC (December 1, 2007) – FOCUS,
LLC, a national middle market investment banking firm providing
merger, acquisition, divestiture and corporate finance
services announced today that Technuity, Inc. has been
acquired by Audiovox Corporation (Nasdaq: VOXX). FOCUS
represented Technuity in the transaction.
Technuity is an emerging leader in the
battery and power products industry. The Company designs, manufactures
and markets products, such as batteries, carrying cases and
accessories for imaging, computing, communication, and entertainment
devices. Technuity is the exclusive licensee of the
Energizer brand in North America for these products. They
have a client base in the “big box” retail channel
and are in the aftermarket battery and power products segment.
Audiovox Corporation is a leading international
supplier and value added service provider in the consumer
electronics industry. The Company conducts its business
through subsidiaries and markets mobile and consumer electronics
and accessories both domestically and internationally.
According to Doug Rodgers, CEO of FOCUS, “This
transaction was a win-win for every party. The deal
will add new product categories to the Audiovox product line
as well as provide a platform for growth in international
markets.”
Dean Petruzzi, President of Technuity, also
commented, “With
the dramatic growth in our business over the last several
years, and Energizer’s highly recognized consumer brands,
Audiovox is well positioned to capitalize on the well known
Energizer Brand in a broad and competitive market. Its
ability to reach diverse customers should propel further
growth of Technuity’s products.”
About FOCUS LLC
FOCUS LLC provides a range
of middle market investment banking services across the U.S.
with an emphasis on mergers, acquisitions, divestitures and
corporate finance. FOCUS is headquartered in Washington,
D.C. with regional offices in Atlanta, Chicago and San Francisco. FOCUS specializes in business
units with transactions or revenues in the $5-300 million range,
serving entrepreneurs, corporate owners and various types of
investors across a broad range of industries throughout the
US and worldwide. FOCUS bankers are seasoned operating
and financial executives with extensive transaction experience.
Securities transactions are conducted by FINRA broker dealer,
Wm H. Murphy Co. For more information on FOCUS, visit www.focusbankers.com. |