Background:
• In 2011, Focal, a French company which designs and sells high-fidelity audio systems, and Naim, a UK-based electronics specialist merged to form the Vervent Audio Group (Vervent), a leading manufacturer and distributor of high-end and luxury audio equipment
• Vervent has created benchmark acoustic equipment for nearly 40 years for various markets, such as home audio loudspeakers, headphones and car speakers
• Since inception, Vervent has gained international recognition through iconic products such as its Utopia speakers or Muso system, which earned multiple worldwide awards
• Vervent Audio Group employs 430 people and is predicted to generate €110m in sales in 2019, of which c.80% will be international in nature
Process:
• Alpha Private Equity entered into exclusivity with Naxicap Partners to acquire Vervent following a competitive auction process initiated in July 2019
• DC Advisory assisted Alpha Private Equity in all the acquisition steps and in the implementation of a binding bank financing package
Outcome:
• The transaction is expected to close before the end of 2019 following its approval by the worker’s council of Vervent and the relevant competition authority
• Alpha Private Equity intends to support Vervent's management team in its ambitious expansion plan, especially in the US and Asia
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