Byrne Buys Back NHT
Chris Byrne, who co-founded NHT in 1986, has bought back the brand with two partners from its most recent owner, Vinci Group.
Byrne was most recently managing director of NHT at Vinci until his departure from the company in September, and began negotiations in early December to effect a managed buyout, which was just finalized. The two other partners to the buyout are longtime NHT executive John Johnsen and Jim Pyle, a Silicon Valley business entrepreneur heretofore unconnected to the consumer electronics industry.
Byrne said that the company will keep its headquarters in Benicia, Calif. Future product direction will be made clear, he added, in a few months. “We will start product development in eight or nine months,” he said, “but we really want to get our legs underneath us first and make sure our customers are happy and everything’s taken care of before we do too much new stuff. We’ll get the sales structure going first, and then add the engineering in about a month.”