THIEL Audio Acquired by Private Equity Firm
THIEL Audio announced Wednesday that it has been acquired by a private equity firm based in Nashville, Tenn. The company’s announcement did not reveal the name of the acquiring firm or the purchase price.
THIEL said Bill Thomas is the company’s new CEO, that the company’s Lexington, Ky.-based operation will remain open with factory and sales channels in place, and that longtime employees Brad Paulsen, Gary Dayton, Lana Ruth and Rob Gillum will remain with the company. The role of company president and cofounder Kathy Gornik is at present “undefined,” a company spokesman told CustomRetailer.
“We identified THIEL as a brand with an unmatched heritage in performance audio and it is our intent to invest in the company’s infrastructure, strengthening the engineering department first and foremost,” Thomas said in a statement.
“We can improve efficiencies here at THIEL in the product development and manufacturing stages, shortening the time to delivery for new products with zero compromise in product quality.”
Thomas will meet the media next week.