AVAD, WAVE Electronics Merge after Kingswood Capital Acquisition
After inking WAVE Electronics for an undisclosed amount, Kingswood Capital Management has announced that it will merge the distributor with industry stalwart AVAD. Kingswood Capital Management acquired AVAD in 2016 after it's former parent company, Ingram Micro, was sold for $6 billion to Chinese conglomerate Tianjin Tianhai.
The move will bring a cumulative 31 physical locations across North America, creating "the single largest value-added distributor of high-end audio, video, security, and home automation solutions in the consumer electronics industry." And it wasn't too long ago that AVAD brought 11 new branches to the market, including locations in Texas, Colorado, California, and Massachusettes.
“The merger of WAVE and AVAD provides for a unique combination of scale and diversification in the North American custom-installer channel," said Alex Wolf, Managing Partner of Kingswood. "The combination of WAVE and AVAD creates a multitude of growth opportunities from a wide base of 31 different physical locations. Industry integrators will have access to an industry-leading line card at more locations than ever before.”