SnapAV’s growth story since launching in 2005 is entering an exciting new chapter as it buys its first display company — and more acquisitions are in the works. The Charlotte, NC-based manufacturer, known for its focus on the residential AV market as being both a manufacturer and a distributor, just announced the acquisition of outdoor TV manufacturer, SunBriteTV.
“Our dealers are doing more and more outdoor systems, and we want to help them grow revenue in those areas,” says SnapAV CEO John Heyman. The SunBriteTV lineup will complement SnapAV’s Episode outdoor audio products to provide dealers with a full solution for outdoor living.
Unlike banker-led financial “rollups” that have been common in the AV industry, SnapAV characterizes this transaction similarly to how they’ve entered a number of new product categories. Heyman indicates that in his conversations with dealers, outdoor spaces are discussed as an area of growth and future opportunity. He adds, “This acquisition represents a commitment that we’re making to the outdoors. While it’s our first major acquisition, it’s really just business as usual in terms of listening to our dealers and taking action based on what they tell us.”
SnapAV plans to sell SunBriteTV products directly to dealers rather than through the AV distribution channels that SunBriteTV has used in the past. SunBriteTV’s Cameron Hill comments, “When dealers purchase SunBriteTV products at SnapAV, they will be direct with the manufacturer, and their pricing will reflect that. SnapAV’s business model delivers value and service at significantly lower costs, and, as with all SnapAV products, dealers will begin benefiting from that right away.”
SunBriteTV products will become available through SnapAV before the end of the year. The company indicates that dealers will see lower prices and free shipping when buying directly from SnapAV, rather than through distribution.
SunBriteTV has already been incorporated into the SnapAV website.