Technology Insight

WAVE Electronics Acquired by Altamont Capital Partners

HOUSTON — WAVE Electronics, a distributor of connected home, A/V and residential security products, has been acquired by Altamont Capital Partners for undisclosed terms.

With nine branch locations across the United States, WAVE, based here, is a single-source solution provider to an expansive base of independent integrators and national accounts. Altamont’s investment provides liquidity that will support WAVE’s existing capabilities and expand its inventory, creating an ample runway for continued growth, according to an announcement.

In 2018, the company was acquired by Kingswood Capital and merged into AVAD, which itself was acquired by Kingswood in 2016.

All of WAVE’s current U.S. locations were included as part of the Altamont Capital transaction and are continuing to operate in the normal course. Additionally, WAVE’s senior management will continue to run the business, including CEO Mark Fukuda, VP of Sales Bryan Stewart and VP of Purchasing & Merchandising Ainslie Fukuda.

Altamont Capital is a private investment firm based in the San Francisco Bay Area with more than $2.5 billion of middle market assets under management.

“WAVE plays a critical role in the connected home and audio/visual supply chain, partnering with dozens of high-quality suppliers to provide value-add services and distribute products to a fragmented customer base,” says Randall Eason, a managing director at Altamont. “We are excited to be making this investment, and we are delighted to have the opportunity to partner with Mark and the rest of the team to fuel WAVE’s continued profitable growth.”

Kirkland & Ellis served as legal counsel to Altamont on this transaction. McDonald Hopkins served as legal counsel and Jefferies acted as financial advisor to WAVE.

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