Avad Parent Kingswood Capital Buys Wave Electronics
Private equity firm Kingswood Capital Management acquired Houston-based Wave Electronics and will merge Wave with its Avad distribution company, making the combined operation the largest value-added distributor of high-end audio, video, security and home automation solutions in the CE industry,…
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said Kingswood Wednesday. The new company, based in Houston, will focus on the residential and commercial custom installation markets in North America. Mark Fukuda, Wave chief operating officer, is the CEO for the combined enterprise; Bill Steckel, chief finance officer; Ainslie Fukuda, vice president-purchasing; Bryan Stewart, vice president-sales; and Jon Zabel, vice president-vendor management, it said. Tom Jacoby, who was AVAD's CEO, is chairman of the combined company.