Performance Designed Products, LLC (PDP), a developer of video game accessories and peripherals, has been acquired by Diversis Capital Partners, a Los Angeles-based private equity firm focused on software and technology-enabled organizations.
Founded in 1990, PDP designs, engineers, and markets a full suite of video game accessories including headsets, controllers, chargers, and protective cases for Xbox, Nintendo, and PlayStation. PDP sells hardware and software products under their own brands – PDP Gaming, Afterglow, Rock Candy and Victrix – which are sold worldwide, including at Wal-Mart, Target, Amazon, GameStop, and Best Buy. PDP is headquartered in San Diego.
With a variety of innovative gaming accessories already in the PDP portfolio, the company looks forward to the support Diversis Capital will offer to further fuel their growth.
“We’re excited to have our new owners on board and to have the full support of Diversis to enhance our offerings and commitment to our customers,” says Tom Roberts, CEO of PDP. “The gaming market continues to strengthen, and with new console releases and exciting opportunities in international markets we look forward to working with the Diversis team whose financial and technical expertise will help us take the company to the next level.”
Diversis Capital, which was founded in 2013 and has over USD350 million in assets under management, partners with software and technology enabled companies to help build value and drive growth.
Kevin Ma, Managing Partner of Diversis, states: “We have been very impressed by the deep technical knowledge of the PDP team and their commitment to quality and innovation. They have a tremendous product line and an even more exciting product roadmap for new verticals. We look forward to partnering with the PDP team to help them extend their leadership position in the video game market.”
Dave Muscatel, Senior Operating Partner at Diversis and former COO of PDP, explains: “This is a bit of a homecoming for me. The PDP team knows the video game space as well as anyone and I am so excited to be working with them again.”
RSM US LLP and Duff & Phelps, LLC served as financial advisors to Diversis and O’Melveny as legal counsel.
