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Kingswood Capital buys WAVE Electronics

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Kingswood Capital buys WAVE Electronics

Kingswood Capital Management LLC purchased WAVE Electronics Inc. for an undisclosed sum.

The lower-middle-market private equity firm plans to combine it with another consumer electronics distributor, AVAD LLC.

The merged company, which will be based in Houston, will focus on the residential and commercial custom-installation markets for audio-video and security equipment in North America and integrate the companies' dealer services, such as technical support, programming services, marketing services and dealer programs.

Former WAVE COO Mark Fukuda will be CEO of the new company, and former AVAD CEO Tom Jacoby will be chairman.

New members of the executive team include Bill Steckel as CFO, Ainslie Fukuda as vice president of purchasing, Bryan Stewart as vice president of sales and Jon Zabel as vice president of vendor management.

Dentons US LLP and Goodwin Proctor LLP served as legal advisers to Kingswood, and Stephens Inc. was the exclusive financial adviser to WAVE Electronics.