Kingswood, Owner of AVAD, Buys WAVE Electronics and Will Enter ProAV Distribution Market Too

Kingswood Capital Management (a private equity firm) announced today that it has acquired Houston, Tex.-based WAVE Electronics and will merge WAVE with its portfolio company, AVAD — you may recall that Kingswood purchased AVAD from Ingram Micro back in July 2016. Kingswood says that this will create the largest distributor of AV, security and home automation in the CE market. The new company will be focused on the residential and commercial custom installation markets in North America.

At closing, Mark Fukuda, former chief operating officer for WAVE, will take over as the chief executive officer for the combined new enterprise. Key members of the new executive management team will include Bill Steckel as chief finance officer, Ainslie Fukuda as vice president of purchasing, Bryan Stewart as vice president of sales and Jon Zabel as vice president of vendor management.

The new company will be headquartered in Houston, Tex. and will combine residential AV, ProAV and security brands across all of its North American locations. The new company plans to integrate dealer services including tech support, programming services, marketing services and dealer programs.

Tom Jacoby, who had been serving as AVAD’s chief executive officer, will become chairman of the combined company.

The announcement didn’t specify what the new company will be called, but it appears it will be called AVAD based on the wording of the announcement.

Gary Kayye

About Gary Kayye

Gary Kayye, founder of rAVe Publications, is one of the most prominent personalities in the audiovisual industry. He has been a contributor to WIRED magazine and a technical advisor and columnist for Sound & Communications magazine as well as an opinionated columnist for rAVe [Publications] since 2003. In addition to his writing and market analysis, Gary has been a product, marketing and business operations consultant to dozens of AV companies in the U.S. and overseas. Clients have included companies such as Sony, Sharp, Epson, Lutron, InFocus, Sanyo, Mitsubishi, NEC and Philips.   Gary, who has been involved with the audiovisual market for over 20 years, was the recipient of the InfoComm 2003 Educator of the Year Award and the 2007 NSCA Instructor of the Year Award. Over the years, he has donated much of his time as an active volunteer in the AV industry’s trade association and served as chairman of InfoComm’s Professional Education & Training Committee (PETC), chairman of the ICIA Design School Committee and chairman of InfoComm’s Installation School Committee. In addition, he has served on the InfoComm board of governors. He also helped grow the InfoComm Projection Shoot-Out as the premiere AV industry trade show special event serving on the committee from 1991 through 1997, and was instrumental in launching the Shoot-Out in the European market at the Photokina Expo in 1994 and 1996 as well as the Asian market at the 1995 and 1997 INFOCOMM Asia shows.   Prior to founding his own company, Gary was vice president of sales and marketing for AMX Corporation (www.amx.com), a manufacturer specializing in professional AV and residential AV control systems. Prior to AMX, Gary spent nine years at Extron Electronics (www.extron.com), rising to the position of vice president of sales and marketing. Gary earned his bachelor’s degree in journalism in 1987 from the University of North Carolina and is currently Adjunct Faculty at UNC in the School of Journalism teaching a class on how future technologies will affect the future of advertising, PR and marketing.   He is also the founder of Swim for Smiles, a non-profit that raises money for the N.C. Children’s Hospital through swimming and other fitness-related events for kids. You can contact him at gary@ravepubs.com..