Private equity fund Monomoy Capital Partners has completed its tender offer for the common stock of Cobra Electronics at a price of USD4.30 per share.
Immediately upon the closing of the tender offer, Monomoy completed a merger transaction to take Cobra private and add Cobra to the Monomoy portfolio of companies.
Cobra is a global designer and distributor of communication and navigation products, including two-way radios, radar detectors and citizens band radios. Monomoy will focus on improving margins and cash flow while supporting and growing its core business.
“We are thrilled to add Cobra to our consumer electronics portfolio,” says Justin Hillenbrand, Monomoy’s co-chief executive officer. “Cobra has a market-leading brand and a well-deserved reputation for delivering quality products. We look forward to working with the Cobra team to build a thriving business.”
