Broadcast Electronics announced it has been acquired by a new ownership group led by CEO Rich Redmond and majority investor The Alzana Group.
The transaction was structured as an asset purchase from BE’s previous owner, Italy-based Elenos.
The company will continue to operate as Broadcast Electronics but under a new legal entity named BE Systems.
Redmond told Radio World that the new ownership is committed to the team at its headquarters in Quincy, Ill. He anticipates adding resources to drive innovations that help customers create content and deliver it to consumers across multiple platforms: “terrestrial, streaming, wherever they want to consume it,” Redmond said.
Financial terms were not disclosed.
Redmond will become a significant owner of BE and will work with John Danner, the chairman of The Alzana Group.
Danner founded the investment firm in 2021. He previously served for five years as chairman of GatesAir and his time overlaps during Redmond’s 23-year tenure at the manufacturer.
The Alzana Group is based in Boston and provides capital solutions to family- and founder-owned businesses, according to the firm’s LinkedIn profile.
“Alzana is not a private equity firm, as it only invests its own capital and that of its partners,” it said on its LinkedIn.
Danner said in a BE release that Alzana views radio broadcast as an “underserved” market in great need of newer technology, better service and a partner focused on meeting and exceeding the needs of customers.
BE was founded in 1959 and began manufacturing transmitters in 1977.
Elenos acquired the manufacturer in 2017.
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