Altamont Capital Partners has acquired certain assets of WAVE Electronics, distributor of connected home, audio/video, and residential security products with nine branches across the US.
All of WAVE's current U.S. locations were included as part of the transaction and are continuing to operate in the normal course. Additionally, WAVE's senior management will continue to run the business, including CEO Mark Fukuda, VP of sales Bryan Stewart, and VP of purchasing and merchandising Ainslie Fukuda.
"WAVE plays a critical role in the connected home and audiovisual supply chain, partnering with dozens of high-quality suppliers to provide value-add services and distribute products to a fragmented customer base," said Randall Eason, a managing director at Altamont. "We are excited to be making this investment, and we are delighted to have the opportunity to partner with Mark and the rest of the team to fuel WAVE's continued profitable growth. Together, we are confident that we will drive value for the business' customers, employees, vendors, and other stakeholders in the months and years to come."
"This announcement is a testament to the dedication of our employees and the strength of our value proposition to our customers and suppliers," added Fukuda. "Altamont shares our commitment to delivering unrivaled support and superior service to our customers, while investing in and growing our team, and will be a true partner as we execute on our strategic objectives."
Kirkland & Ellis served as legal counsel to Altamont on this transaction. McDonald Hopkins served as legal counsel and Jefferies acted as financial advisor to WAVE.