AAMP Global, owned by Audax Private Equity, announced the completion last week of its sale to a new private equity firm, the Halifax Group.
AAMP’s current management, led by CEO Jamie Fraser, will remain in place after the transition, according to Halifax.
AAMP is a portfolio of brands including PAC, Stinger, Echomaster, iSimple and Phoenix Gold, offering aftermarket car audio and safety products and installer kits to integrate audio/video into automobiles.
Managing Director Young Lee of former owner Audax said, Fraser and his team helped grow AAMP significantly in the US and internationally.
Fraser said AAMP will benefit from Halifax’s financial support and Halifax said AAMP is a market leader, well positioned to take advantage of new trends in automobiles.
“With a large and aging global car fleet, there is significant embedded demand for AAMP’s solutions, and the Company has market-leading product development capabilities,” said Doug Hill, Partner at Halifax. “As a result, AAMP is well-positioned to capitalize on the growing need for aftermarket audio, safety, and infotainment products that integrate seamlessly with OEM systems. We look forward to pursuing the next phase of growth for the Company in partnership with Jamie Fraser and the executive team.”
As a private equity firm founded in 1999, Halifax partners with companies valued generally at between $50 and $300 million. It owns a number of companies in the health and wellness, outsourced business services, franchising and infrastructure industries. It is headquartered in Washington, D.C. and maintains offices in Dallas, TX and Raleigh, NC. For more information, please visit www.thehalifaxgroup.com
Source: https://www.ceoutlook.com/2019/11/11/aamp-global-sold-to-new-firm/
