DALLAS, TEXAS - Highlander Partners L.P., a leading middle market private investment firm based in Dallas, Texas, today announced the acquisition of Biamp Systems from Lomar Corporation. Founded in 1976 and headquartered in Beaverton, Oregon, with additional engineering operations in Brisbane, Australia, and Rochester, New York, Biamp is a leader in commercial audio systems for business, education, and government facilities. Lomar will continue as a minority partner in the transaction.
Highlander Partners' principal focus is on making direct and control investments in manufacturing, consumer products, and food and beverage products. In September of 2016, Highlander added Rashid Skaf, the former CEO of AMX, as a Senior Advisor to identify technology company opportunities. In connection with this transaction, Mr. Skaf will become President, CEO, and co-Chairman of Biamp.
Mike Nicolais, Vice Chairman and CEO of Highlander Partners commented, "Highlander has been very successful building value in enterprises by finding well-run, profitable businesses in healthy industries that have the potential for significant future growth through both organic expansion of the existing business and strategic additions of complementary acquisitions. Biamp perfectly matches that profile and we're delighted to add it to our portfolio. We believe the addition of Rashid to an already strong Biamp team will guide the company to tremendous success."
Mr. Skaf added, "While CEO of AMX, I was intimately familiar with Biamp and developed deep respect for its products, brand, and organization. I'm delighted to have the opportunity to join and lead the Biamp team. I have no doubt that together we will usher Biamp into an exciting new period of growth and industry leadership that will benefit the company, its employees, and channel partners."
Technology M&A Practice (Formerly Pagemill Partners), a division of Duff & Phelps, acted as financial advisor to Biamp Systems Corporation in the transaction. Regions Bank and Fifth Third Bank, as joint lead arrangers, provided senior financing facilities and Norwest Mezzanine Partners provided mezzanine debt and equity in support of the transaction.
About Biamp Systems
Biamp Systems is a leading provider of innovative, networked media systems that power the world's most sophisticated audio/video installations. The company is recognized worldwide for delivering high-quality products and backing each one with a commitment to exceptional customer service.
Biamp is dedicated to creating products that drive the evolution of communication through sight and sound. The award-winning Biamp product suite includes: Tesira® media system for digital audio and video networking, Devio® collaboration tool for modern workplaces, Audia® digital audio platform, Nexia® digital signal processors, and Vocia® networked public address and voice evacuation system. Each has its own specific feature set that can be customized and integrated in a wide range of applications, including corporate boardrooms, conference centers, huddle rooms, performing arts venues, courtrooms, hospitals, transportation hubs, campuses, and multi-building facilities. For more information on Biamp, please visit www.biamp.com.
About Highlander Partners
Highlander Partners, L.P. is a Dallas-based private investment firm with over $1.4 billion of assets under management. The firm focuses on making investments in businesses in targeted industries in which the principals of the firm have significant operating and investing experience, including basic manufacturing, food, chemicals, building materials, consumer products, and others. Highlander Partners uses a "buy and build" investment approach, creating value by helping companies grow organically and through acquisitions. For more information, visit www.highlander-partners.com.