Cobra Electronics Acquired by Private Equity FirmAugust 28, 2014
Cobra Electronics has agreed to be acquired by private equity firm Monomoy Capital Partners II, L.P.
Monomoy has agreed to purchase all shares of Cobra's common stock at $4.30 per share in cash.
“This transaction will deliver to Cobra Electronics’ shareholders certainty of value and liquidity in the form of a cash payment immediately upon closing,” said Jim Bazet, Chairman and Chief Executive Officer of Cobra Electronics.
“We are excited to work with Monomoy as this transaction marks the next stage in the evolution of the Cobra brand.”
Monomoy is also the owner of Cobra's rival, Escort.