Broadcast Electronics Sold - Radio World

Broadcast Electronics Sold

Broadcast Electronics Sold
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Looks like Broadcast Electronic's expansion into the HD Radio product market has garnered investor attention.
Thompson Street Capital Partners, a private equity firm based in St. Louis, Missouri, has joined with the management of Broadcast Electronics, Inc. to acquire the company. Hoak Capital Corporation, a private equity firm based in Dallas, Texas, was the seller.
Terms of the transaction were not disclosed.
BE President/CEO John Pedlow termed the deal an important move.
"We have enjoyed our successful 7-year relationship with the Hoak organization, and we believe that this acquisition reflects a high level of confidence by Thompson Street in both the future of BE and the growth of the radio market."
This is the fifth platform investment for Thompson Street Capital Partners, founded by James Cooper and Peter Finley.
"We're very pleased to be associated with BE," said Finley in a statement announcing the sale. Be, he stated, "has been a leader in the broadcast equipment market for many years. We support BE's continuing commitment to the radio business and believe that the company is well positioned to participate in the growth of HD Radio over the next several years. In
addition, the company has some exciting opportunities to build from its strengths in radio broadcast automation to provide transmission of digital media to other market sectors."
Thompson Street Capital Partners makes private equity investments in middle-market companies. The firm focuses on buying companies in manufacturing, service and distribution industries.

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