Private Equity Firm That Owns SnapAV Sells it to Another Private Equity Firm
SnapAV today announced that affiliates of Hellman & Friedman LLC (“H&F”) have entered into a definitive agreement to acquire the company from General Atlantic.
As you likely already know, SnapAV sells AV glue products, security, networking, and automation products to residential and commercial AV, integrators. The company wholesales approximately 2,700 SKUs across 14 brands and serves integrators across the United States with an eCommerce model.
John Heyman, CEO of SnapAV, said: “Our broad, high-quality product lineup and ability to anticipate and support our dealers’ needs has been critical to our success. We know what dealers want and how to make their job easier, and our logistics system ensures they get what they need fast and at the right price. Responding to our customers, we have expanded into the networking, surveillance and remote cloud management categories, and created a one-stop solution for technology integrators. We thank General Atlantic for their contributions to SnapAV’s growth and development over the past four years and welcome Hellman & Friedman as our new partner. Hellman & Friedman’s industry expertise and outstanding track record of helping companies like us grow will serve us well as we continue to execute on our strategy of providing great products and exceptional service to our dealer customers.”
“SnapAV’s innovative eCommerce platform, compelling products and excellent service deliver tremendous value to the integrator community,” said Erik Ragatz, managing director of Hellman & Friedman. “With its network of loyal dealers and an outstanding base of employees, SnapAV is very well positioned to continue on its growth trajectory. We look forward to partnering with John and the rest of the management team as the company moves into its next phase of growth.”
Mark Dzialga, Managing Director at General Atlantic, said, “We have been pleased to support SnapAV through a period of substantial growth and appreciate our strong partnership with the management team. As SnapAV enters its next phase of development, we are confident the company is in great hands with Hellman & Friedman and we look forward to watching its future success.”
The transaction is expected to close in the third quarter of 2017. Additional terms were not disclosed.
UBS Investment Bank and SunTrust Robinson Humphrey acted as M&A advisors to Hellman & Friedman on the transaction. Simpson Thacher & Bartlett LLP acted as legal counsel to Hellman & Friedman. Evercore acted as M&A advisors and Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal counsel to SnapAV and General Atlantic.
