FOCUS Announces Sale of Technuity, Inc. to Audiovox Corporation
Washington, DC (December 1, 2007) – FOCUS, LLC, a national middle market investment banking firm providing merger, acquisition, divestiture and corporate finance services announced today that Technuity, Inc. has been acquired by Audiovox Corporation (Nasdaq: VOXX). FOCUS represented Technuity in the transaction.
Technuity is an emerging leader in the battery and power products industry. The Company designs, manufactures and markets products, such as batteries, carrying cases and accessories for imaging, computing, communication, and entertainment devices. Technuity is the exclusive licensee of the Energizer brand in North America for these products. They have a client base in the “big box” retail channel and are in the aftermarket battery and power products segment.
Audiovox Corporation is a leading international supplier and value added service provider in the consumer electronics industry. The Company conducts its business through subsidiaries and markets mobile and consumer electronics and accessories both domestically and internationally.
According to Doug Rodgers, CEO of FOCUS, “This transaction was a win-win for every party. The deal will add new product categories to the Audiovox product line as well as provide a platform for growth in international markets.”
Dean Petruzzi, President of Technuity, also commented, “With the dramatic growth in our business over the last several years, and Energizer’s highly recognized consumer brands, Audiovox is well positioned to capitalize on the well known Energizer Brand in a broad and competitive market. Its ability to reach diverse customers should propel further growth of Technuity’s products.”
About FOCUS LLC
FOCUS LLC provides a range of middle market investment banking services across the U.S. with an emphasis on mergers, acquisitions, divestitures and corporate finance. FOCUS is headquartered in Washington, D.C. with regional offices in Atlanta, Chicago and San Francisco. FOCUS specializes in business units with transactions or revenues in the $5-300 million range, serving entrepreneurs, corporate owners and various types of investors across a broad range of industries throughout the US and worldwide. FOCUS bankers are seasoned operating and financial executives with extensive transaction experience. Securities transactions are conducted by FINRA broker dealer, Wm H. Murphy Co. For more information on FOCUS, visit www.focusbankers.com.