Alpha Private Equity to acquire Vervent Audio Group
Alpha Private Equity (Alpha), an investor in the European mid-market segment, has entered in exclusive negotiations with Naxicap Partners to acquire a majority stake in Vervent Audio Group, the holding company of Focal JMLab and Naim Audio, two providers working in high-end acoustics and electronics markets.
Vervent Audio Group is a manufacturer and distributor of high-end and luxury audio equipment. The group has over 40 years of experience in the design and manufacture of audio equipment such as home or professional studio speakers, headphones and car speakers. The group has three production sites located in France and the United Kingdom and employs nearly 430 people.
The group, which distributes its products in over 160 countries through its distribution network composed of nearly 8,200 points of sale, is focused on export markets with nearly 80 per cent of its turnover generated internationally. Sales are expected to reach EUR110 million in 2019.
The change of shareholder will enable Vervent Audio Group to strengthen its market positions by supporting its growth plan, particularly in the United States and Asia.
Christophe Sicaud, CEO of Vervent Audio Group, says: “After a successful partnership with Naxicap Partners, we are very pleased to be partnering with Alpha to accelerate our development. The fund’s very solid knowledge of B2C sectors and its European presence made it a natural partner for us.”
Patrick Herman, President of Alpha Associés Conseil, says: “Alpha is delighted to accompany Vervent Audio Group alongside its management for its next development phase. We have been impressed by the work done in recent years carried out by Christophe Sicaud and his team and Alpha will provide them with the means to implement their ambitious growth plan.”
Amélie Finaz, Director at Alpha Associés Conseil, adds: “Under the leadership of Christophe Sicaud and his management team, Vervent Audio Group has experienced a remarkable growth story based on solid fundamentals, including unique R&D capabilities, European manufacturing and a global distribution network. We are convinced that this French company has the assets to capture the organic growth opportunities within the markets in which it operates and to play a leading role in the consolidation of the sector.”