Transom Capital Group Completes Sale of Blue Microphones
LOS ANGELES, July 23, 2013 /PRNewswire/ -- Transom Capital Group today announced the sale of Baltic Latvian Universal Electronics, LLC (dba Blue Microphones) to The Riverside Company. Blue Microphones represents the first exit from Transom Capital Fund I, LP.
Founded in 1995, Blue is a rapidly growing developer and marketer of premium quality microphones for professionals and consumers. The Company is the leader in the fast-growing digital USB and iOS microphone market as a result of its technologically innovative, design-forward microphones and brand credibility earned by serving demanding professional recording artists and engineers. Blue Microphones is uniquely positioned at the forefront of an unprecedented convergence of professional and consumer content creation as a result of its unique ability to deliver products for a diverse array of recording applications.
"Blue is very special to us as it was the first investment, and now the first exit, out of our first fund. We are thrilled with the outcome and the platform we helped create with the Blue team. We helped usher Blue through a cycle of operational restructuring followed by rapid growth and are excited to see the heights that Blue will reach in the future," said Ken Firtel, Managing Director, Transom Capital Group.
"Over the past five years, Blue Microphones has launched a whirlwind of innovative new products and expanded distribution globally under the ownership of Transom Capital," said Blue Microphones CEO John Maier. "The Transom team was always there when we needed them, but also empowered us to succeed on our own. It was a great recipe for success, and I will always be grateful to them for their expertise and support."
"The Blue transaction is an example of the Transom model working to perfection. Five years ago we acquired a company with a strong brand, but lacking in the operational sophistication and expertise to reach its full potential. Leveraging our deep, front-line experience in implementing operational transformation programs, we were able to successfully work with the Blue management team to solve the key strategic and operational challenges that were an impediment to Blue's success," said Russ Roenick, Managing Director, Transom Capital Group.
Terms of the transaction were not disclosed. Gary Rabishaw, Adam Abramowitz and Greg Passani from Intrepid Investment Bankers and Andrew Gross from Russ August & Kabat advised Transom Capital Group and Blue Microphones in the transaction.
About Transom Capital Group
Transom Capital Group is a leading Los Angeles-based private equity firm with a heavy operational focus to private equity investing, including special situation, restructuring, turnaround, and distressed transactions in the middle-market. The Transom Capital team has a proven track record of investing in, restructuring, and growing businesses for the long-term. Key to its success is its unique approach of heavy operational involvement, collaboration with management teams and strategic support provided to each portfolio company. Transom Capital's unique team of professionals brings the experience, energy, and expertise to maximize the value-added to each company. Visit the company at http://www.transomcapital.com.
SOURCE Transom Capital Group