M.M.Warburg & CO Corporate Finance advises VOXX International Corporation on the sale of its German subsidiary VOXX German Accessory Holdings GmbH to HF Company
HF Company (Tauxigny, France, HF:FP HF Co) has acquired 100% of shares of VOXX German Accessory Holdings GmbH (Langenzenn, Germany). VOXX German Accessory Holdings GmbH comprises the operations of Oehlbach Kabel GmbH and Schwaiger GmbH. M.M.Warburg & CO acted as exclusive M&A advisor to VOXX International Corporation (Orlando, USA, NASDAQ: VOXX). The completion of the transaction is subject to financing contingencies. The transaction is anticipated to close on or around August 31, 2019. Yves Bouget, Founder and President of HF Company: “The acquisition of VOXX German Accessory Holding is the first significant deal by HF Company Group as part of our redeployment. VOXX German Accessory Holding has been a renowned player in the German home digital life market for a very long time, and has been successful in establishing a strong position in Germany. This deal is strategic for the continued development of our consumer products activity in Europe. I am convinced that the integration of VOXX German Accessory Holding will trigger numerous synergies thanks to the pooling of the key know-how of both our companies.”
About VOXX German Accessory Holdings
VOXX German Accessory Holdings is the number two of the home digital life market in Germany with its brands Oehlbach and Schwaiger. Oehlbach is a provider of high-end cables and accessory products within consumer electronics retail and the leading premium cable and audio/video accessories brand in the German consumer electronics market. Schwaiger is a full-range supplier in the field of satellite reception, antenna and distribution technology, telecommunication and network technology as well as home automation. The company is the leading player in the German DIY market for electronic accessories with a strong foothold in consumer electronics and food retail. Mike Tänzler, CEO of VOXX German Accessory Holdings states: “The addition of our activities to those of HF Company Group is a great opportunity to establish a major European player in the home digital life market. We are eager to join HF Company and to work together for the success of the new whole.”
About VOXX International Corporation
VOXX International Corporation (NASDAQ: VOXX) has grown into a worldwide leader in many automotive, consumer electronics and accessories categories, as well as premium high-end audio. Today, VOXX International is a global company, with an extensive distribution network that includes power retailers, mass merchandisers, 12-volt specialists and most of the world’s leading automotive manufacturers. The company has an international footprint in Europe, Asia and Latin America, and a growing portfolio comprising over 30 trusted brands. Pat Lavelle, President and CEO of VOXX International Corporation comments: “Oehlbach and Schwaiger have been strong contributors to our business. However, this transaction is in line with our strategy to focus more of our resources in North America, where the majority of our business resides today.”
About HF Company
HF Company is a technology integrator in the field of connected home. The Group is also a worldwide leader in the broadband solutions market. HF Company is listed on Euronext Paris (HF:FP HF Co).